Xi Jinping has screwed us: China is not a developing nation anymore, they're at economic war with U.S and European countries, says Kevin O'Leary
WTO) classification of China as a developing nation during an interview on Fox Business, reported Benzinga.
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According to Benzinga, he eventually placed an argument that this outdated designation allows China to receive unfair advantages such as subsidized loans funded by US taxpayers. Kevin O'Leary emphasized on the fact that China is engaged in ‘an economic war’ against the US and European countries while stating ‘China is not a developing nation’.
Benzinga asserted that Kevin O'Leary expressed his eventual frustration over the trade practices of China while claiming they do not adhere to reciprocal agreements. Adding onto that, he also proposed using tariffs as a strategic tool to target sectors critical to Chinese employment while suggesting that such measures could force the Chinese government to change its approach.
He also believes that a hardline stance is actually necessary for any future administration to effectively address these issues.
Highlighting the long standing economic challenges faced by the US due to the rise of China, Kevin O'Leary eventually criticized previous administrations for their inaction, noted Benzinga. He then called for a more aggressive policy toward China while asserting that only through tough measures can the US regain leverage in trade relations.
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