this post was submitted on 11 Aug 2023

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Biden calls China a 'ticking time bomb' due to economic troubles (ground.news)

submitted 1 year ago by Fissionami@lemmy.ml to c/worldnews@lemmy.ml

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[–] Num10ck@lemmy.world 5 points 1 year ago (3 children)

the international corporations are leaving fast.

[–] RickyRigatoni@lemmy.ml 10 points 1 year ago

I hope so. Sending our industry to a foreign country that merely tolerates us will lead us nowhere but straight to hell.

[–] Blackout@kbin.social -2 points 1 year ago* (last edited 1 year ago)

not really, the pandemic boom is over so a lot of manufacturing contraction is happening right now. Product inventories are high and personal debt is also at a high. If the economy took a 180 and boomed again all those chinese factories would be at capacity with US orders. Still no replacement for China yet. Vietnam and India are not there.

[–] freagle@lemmygrad.ml -2 points 1 year ago

More companies are moving there. Some German car companies were reported on this week as having made the decision to leave Germany for China