Chinaâs Economic Collapse Raises Concerns Over Taiwanâs Safety In a recent statement, the Republican chair of a U.S. congressional committee on China, Mike Gallagher, has expressed concerns over Chinaâs economic collapse and its potential implications for Taiwan. This viewpoint starkly contrasts with President Joe Bidenâs assertion. The latter stated that economic troubles in new China make military action against Taiwan less likely. Biden Dismisses Invasion Fears President Biden, during his recent trip to Asia, labelled Chinaâs economic issues as a âcrisis.â He also expressed his belief that new China might lack the âsame capacityâ it once had for such military ventures. That is making an invasion of Taiwan less likely. Gallagherâs Perspective Mike Gallagher, chair of the U.S. House of Representativesâ select committee on competition with China, voiced an alternative viewpoint. He emphasized that he did not intend to criticize the Biden administration. However, he believes that new Chinaâs economic and demographic challenges could push Chinese President Xi Jinping towards riskier decisions. In essence, Gallagher suggested that Xi might become more unpredictable and potentially engage in unwise actions, including military aggression towards Taiwan. Chinaâs Military Buildup In recent years, China has significantly increased its military activity near Taiwan, which it considers part of its territory. U.S. Central Intelligence Agency Director William Burns even suggested that Xi had instructed his armed forces to be ready to invade by 2027, though no specific order had been given yet. China Disputes Economic Crisis Claims Chinaâs foreign ministry has vehemently denied claims of a China collapse, stating that new Chinaâs economy has not collapsed. Officials from various countries, including the United States and Australia, have expressed concerns about Chinaâs banking crisis and the potential impact on their own economies. President Bidenâs characterization of it as a âcrisisâ and Australian Treasurer Jim Chalmersâ worries about the potential repercussions have added to these concerns. Chinaâs Response Mao Ning, a Chinese foreign ministry spokesperson, refuted these claims, stating that new Chinaâs economy had great potential and that the fundamentals of long-term improvement had not changed. She emphasized that China was confident and capable of promoting sustained and healthy economic development. Economic Challenges Persist Chinaâs banking crisis has added to the economic challenges faced by new China. Its economic recovery, initially robust in the first quarter after three years of strict COVID-19 restrictions, has lost momentum. Factors such as weak consumer spending and a deepening property downturn, coupled with the impact of the China special economic zones, have contributed to this slowdown. Analysts predict a 5.0% growth rate for the year, down from the 5.5% forecasted earlier in the year. In conclusion, the growing concerns about Chinaâs economic collapse and their potential impact on Taiwan are indicative of the complex geopolitical landscape in Asia. While President Biden downplays the possibility of military action, Mike Gallagherâs warning highlights the uncertainties surrounding new Chinaâs future actions in the face of economic challenges, including Chinaâs banking crisis and the role of Chinaâs special economic zones. The world watches closely, hoping for a peaceful resolution to these tensions. BONUS VIDEO: Weekly news summary from the markets The post Chinaâs Collapse Raises Concerns Over Taiwanâs Safety appeared first on FinanceBrokerage. [Image] Here are Some More Investing Tips and Resources. Enjoy! Sponsored [Chinaâs Collapse Raises Concerns Over Taiwanâs Safety]( Chinaâs Economic Collapse Raises Concerns Over Taiwanâs Safety In a recent statement, the Republican chair of a U.S. congressional committee on China, Mike Gallagher, has expressed concerns over Chinaâs economic collapse and its potential implications for Taiwan. This viewpoint starkly contrasts with President Joe Bidenâs assertion. The latter stated that economic troubles in new China make military action against Taiwan less likely. Biden Dismisses Invasion Fears President Biden, during his recent trip to Asia, labelled Chinaâs economic issues as a âcrisis.â He also expressed his belief that new China might lack the âsame capacityâ it once had for such military ventures. That is making an invasion of Taiwan less likely. Gallagherâs Perspective Mike Gallagher, chair of the U.S. House of Representativesâ select committee on competition with China, voiced an alternative viewpoint. He emphasized that he did not intend to criticize the Biden administration. However, he believes that new Chinaâs economic and demographic challenges could push Chinese President Xi Jinping towards riskier decisions. In essence, Gallagher suggested that Xi might become more unpredictable and potentially engage in unwise actions, including military aggression towards Taiwan. Chinaâs Military Buildup In recent years, China has significantly increased its military activity near Taiwan, which it considers part of its territory. U.S. Central Intelligence Agency Director William Burns even suggested that Xi had instructed his armed forces to be ready to invade by 2027, though no specific order had been given yet. China Disputes Economic Crisis Claims Chinaâs foreign ministry has vehemently denied claims of a China collapse, stating that new Chinaâs economy has not collapsed. Officials from various countries, including the United States and Australia, have expressed concerns about Chinaâs banking crisis and the potential impact on their own economies. President Bidenâs characterization of it as a âcrisisâ and Australian Treasurer Jim Chalmersâ worries about the potential repercussions have added to these concerns. Chinaâs Response Mao Ning, a Chinese foreign ministry spokesperson, refuted these claims, stating that new Chinaâs economy had great potential and that the fundamentals of long-term improvement had not changed. She emphasized that China was confident and capable of promoting sustained and healthy economic development. Economic Challenges Persist Chinaâs banking crisis has added to the economic challenges faced by new China. Its economic recovery, initially robust in the first quarter after three years of strict COVID-19 restrictions, has lost momentum. Factors such as weak consumer spending and a deepening property downturn, coupled with the impact of the China special economic zones, have contributed to this slowdown. Analysts predict a 5.0% growth rate for the year, down from the 5.5% forecasted earlier in the year. In conclusion, the growing concerns about Chinaâs economic collapse and their potential impact on Taiwan are indicative of the complex geopolitical landscape in Asia. While President Biden downplays the possibility of military action, Mike Gallagherâs warning highlights the uncertainties surrounding new Chinaâs future actions in the face of economic challenges, including Chinaâs banking crisis and the role of Chinaâs special economic zones. The world watches closely, hoping for a peaceful resolution to these tensions. BONUS VIDEO: Weekly news summary from the markets The post Chinaâs Collapse Raises Concerns Over Taiwanâs Safety appeared first on FinanceBrokerage. 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