President Biden Worried, China Is Like a 'Timing Bomb'

<p>&nbsp;China is like a 'time bomb' that will threaten the whole world due to its current economic and demographic weakness, said US President Joe Biden.</p><p><br /></p><p>Speaking at a program on Thursday, Biden said China is facing problems as its growth slows and the number of people of retirement age exceeds working age.</p><p><br /></p><p>"China has some problems, and it's not good because when bad people have problems, they do bad things," said Biden.</p><p><br /></p><p>The statement recalled his earlier comments in June, where he called President Xi Jinping a 'dictator' which Beijing slammed as a provocation.</p><p><br /></p><p><br /></p><p>China's consumer prices fell into deflation with producer inflation extending its decline in July.</p><p><br /></p><p>It indirectly signals that the world's second giant economy may enter an era of slower growth with stagnant consumer prices and wages.</p><p><br /></p><p>China also faces constant pressure in its technological development following sanctions imposed by the United States.</p><p><br /></p><p>Earlier on Wednesday, Biden signed an executive order banning some new US investments in China in sensitive technology such as computer chips.</p>