China has formally objected to remarks made by U.S. Vice President J.D. Vance regarding the nation’s economic relationship with the United States.
During a recent interview with Fox News, Vance explained his perspective on the global economy and the impact of previous trade policies. He stated, “It’s useful for all of us to step back and ask ourselves, what is the globalist economy gotten the United States of America? And the answer is fundamentally, it’s based on two principles – incurring a huge amount of debt to buy things that other countries make for us, and to make it a little bit more crystal clear, we borrow money from Chinese peasants to buy the things those Chinese peasants manufacture.”
Responding to Vance’s comments earlier this week, Lin Jian, spokesperson for the Chinese Foreign Ministry, expressed disappointment. “To hear words that lack knowledge and respect like those uttered by this Vice President is both surprising and kind of lamentable,” he said.
The exchange occurred amidst ongoing tensions between Washington and Beijing concerning trade tariffs. The current administration has been revisiting policies implemented during the Trump era, with a focus on reducing the U.S. trade deficit.
Vance argued that earlier tariff measures enacted by the previous Trump administration had positive effects. He highlighted:
- A relatively low inflation rate of 1.5%
- Rapid economic growth, considered the fastest in a generation
- The initial stages of a revitalization of U.S. manufacturing
In contrast, Vance attributed current economic challenges – including factory closures, rising inflation, and unaffordable housing costs – to the policies of the Biden administration.
“President Trump is taking this economy in a different direction. He ran on that. He promised it. And now he’s delivering,” Vance asserted.
The White House has yet to provide a comment on Vance’s statements.