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[size=36]White House: China's economy collapses[/size]
Economy | 08:54 - 07/08/2019
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Follow up - Mawazine News
China's economy is collapsing and is not as strong as it was 20 years ago, White House economic adviser Larry Kudlow said on Tuesday. US President Donald Trump saw his country's economy in a strong position.
In statements to CNBC, Kudlow said he believed the United States had the upper hand in trade negotiations with China, thanks to the relative strength of the US economy.
"I think China is doing a lot more harm than we are," he said, adding that Donald Trump wants to reach a trade deal with China provided it is "appropriate" for the United States.
"The president is protecting the US economy" from "a lot of unfair trade practices," he said.
US President Donald Trump said on Tuesday that his country's economy was in a very strong position, following his escalation of management of tensions by classifying Beijing as a currency manipulator.
Trump sought to allay US farmers' concerns after China closed its doors to US agricultural imports and raised the prospect of additional tariffs on US agricultural products.
He said he would continue to support US farmers who had already received an offer of $ 16 billion from his administration to deal with losses suffered by the trade war.
"Huge amounts of money from China and other parts of the world are pouring into the United States thanks to safety, investment and interest rates. We are in a very strong position. Companies are also coming to the US in large numbers;
US economic growth slowed to 2.1 percent in the second quarter of 2019, from 3.1 percent in the previous quarter, according to official data.
China's economic growth also slowed in the second quarter of 2019, hitting a 27-year low, driven by trade tensions with the United States and fears of a global economic slowdown.
In statements to CNBC, Kudlow said he believed the United States had the upper hand in trade negotiations with China, thanks to the relative strength of the US economy.
"I think China is doing a lot more harm than we are," he said, adding that Donald Trump wants to reach a trade deal with China provided it is "appropriate" for the United States.
"The president is protecting the US economy" from "a lot of unfair trade practices," he said.
US President Donald Trump said on Tuesday that his country's economy was in a very strong position, following his escalation of management of tensions by classifying Beijing as a currency manipulator.
Trump sought to allay US farmers' concerns after China closed its doors to US agricultural imports and raised the prospect of additional tariffs on US agricultural products.
He said he would continue to support US farmers who had already received an offer of $ 16 billion from his administration to deal with losses suffered by the trade war.
"Huge amounts of money from China and other parts of the world are pouring into the United States thanks to safety, investment and interest rates. We are in a very strong position. Companies are also coming to the US in large numbers;
US economic growth slowed to 2.1 percent in the second quarter of 2019, from 3.1 percent in the previous quarter, according to official data.
China's economic growth also slowed in the second quarter of 2019, hitting a 27-year low, driven by trade tensions with the United States and fears of a global economic slowdown.
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