China Is Headwind for US, Global Economy, Treasury Official Says
- US is growth engine due to policy choices, Adeyemo says
- Beijing has made ‘a set of different decisions’ for economy
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US Deputy Treasury Secretary Wally Adeyemo said China’s economic issues are proving to be a headwind for the US and global economies and that the Asian nation’s fortunes are a result of its own policy choices.
“The United States economy is the engine of growth for the global economy, not by mistake,” Ademeyo said in an interview with Annmarie Hordern and Joe Mathieu on Bloomberg Television’s Balance of Power Wednesday. The expansion is due to “policy choices we’ve made — like the inflation Reduction Act, which is leading to a manufacturing boom here.”