U.S. Commerce Secretary Gina Raimondo says China is uninvestable and her comment echoes an earlier one from Biden: that China is a ticking time bomb.
Experts say China’s weakening economy comes down to the draconian COVID-19 lockdowns that swept across China during the pandemic—closing factories, sending many small businesses toward collapse, and hitting consumer confidence. And on top of that, trade tensions between the U.S. and China are adding fuel to the flame.