Report: Bessent Says China Has a ‘Choice’ on Whether or Not to Be a Reliable Partner
“They either want to be a reliable partner to the rest of the world, or they don’t,” Bessent said via video link to the American Swiss Foundation Leadership Summit in Zurich on Tuesday.
“They are in the midst of a large real estate — I won’t be alarmist and say crisis — but a large real estate over-build and the way for them to stabilize their economy is not to export deflation and excess products to the rest of the world,” he said. “The way to do that is through a level of fiscal stimulus and to stop over-manufacturing, and get on a sound footing for the consumer economy.”
Bessent didn’t comment about a possible call between President Donald Trump and President Xi Jinping, which White House officials have indicated is in the works.