China’s Growth Underscores Bessent’s Call to Rebalance Trade
- Trump’s nominee says China leaning on export to escape trouble
- Economy met official goal of 5% but some imbalances grew worse
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President Xi Jinping’s government reached last year’s 5% growth target, a well-telegraphed victory that came as little surprise. But a closer look at the numbers reveals a reliance on trade that’s set to inflame US ties.
Hours before the official data arrived for China’s fourth quarter, Scott Bessent — Donald Trump’s pick for Treasury secretary — accused the Chinese of “attempting to export their way out” of what he called “a severe recession, if not depression.”