{"id":1004021,"date":"2021-11-12T16:28:42","date_gmt":"2021-11-12T21:28:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1004021"},"modified":"2021-11-12T16:28:45","modified_gmt":"2021-11-12T21:28:45","slug":"china-complains-bidenflation-is-a-threat-to-the-whole-world","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-complains-bidenflation-is-a-threat-to-the-whole-world\/","title":{"rendered":"China Complains Bidenflation Is a Threat to the Whole World"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-complains-bidenflation-is-a-threat-to-the-whole-world%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1004021&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/GettyImages-1231071780-e1636750297725-639x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\"><span>Chinese state media warned on Friday that high U.S. inflation caused by President Joe Biden\u2019s policies is threatening the prosperity of the entire world.<\/span><\/p>\n<p><span>China\u2019s state-run <\/span><a href=\"https:\/\/www.globaltimes.cn\/page\/202111\/1238769.shtml\"><i><span>Global Times<\/span><\/i><\/a> <span>gleefully noted U.S. inflation hit a 31-year high of 6.2 percent in October, chastising American media outlets for trying to change the subject by dwelling on China\u2019s inflation.<\/span><\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p><span>\u201cAs a matter of fact, many in China and other countries, particularly the U.S.\u2019 neighbors, are concerned about a spill-over effect from flying inflation levels in the world\u2019s largest economy,\u201d the <\/span><i><span>Global Times <\/span><\/i><span>argued.<\/span><\/p>\n<p><span>The editorial went on to blame Bidenflation for causing some of China\u2019s consumer price increases:<\/span><\/p>\n<blockquote readability=\"32\">\n<p><span>While it is true that China\u2019s production inflation is rising, the main cause leading to rising cost of factories is the meteoric increase in prices of oil, ore, and other basic materials in the world. And, the unprecedented quantitative easing \u2013 money printing \u2013 by the US Federal Reserve since early 2020 is the culprit to steep price climb of the materials.&nbsp;<\/span><\/p>\n<p><span>[\u2026] If one takes a close look at China\u2019s consumer prices, it\u2019s clear that the country\u2019s price pressure for its consumers is much less concerning than that of other major countries, in particularly the US. China\u2019s consumer price index jumped 1.5 percent in October from a year earlier, quickening from September\u2019s 0.7 percent rise, but remaining at a relatively low level.<\/span><\/p>\n<p><span>By comparison, the elevated US inflationary pressure is a more pressing and disturbing issue for the global economy. Its consumer price index for October rose 6.2 percent from a year ago, the highest since December 1990, while the core rate, excluding food and energy, stood at 4.6 percent, the highest since 1990.<\/span><\/p>\n<\/blockquote>\n<p><span>The editorial blamed the U.S. Federal Reserve for being \u201ctoo generous in injecting hundreds of billions of liquidity into the market,\u201d creating a \u201cspillover effect\u201d that pushed Europe to its own ten-year inflation high of 4.1 percent last month.<\/span><\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p><span>\u201cWhat\u2019s even worse, there seems no good solution to ease inflation in the U.S. If the Fed started raising interest rates to curb inflation, it may cause a sharp slowdown of the country\u2019s economy, and the world\u2019s financial markets, the Wall Street in particular, could be pummeled,\u201d the <\/span><i><span>Global Times <\/span><\/i><span>concluded.<\/span><\/p>\n<p><span>China\u2019s state <\/span><a href=\"http:\/\/en.people.cn\/n3\/2021\/1112\/c90000-9918943.html\"><span>Xinhua<\/span><\/a><span> news service put together a man-on-the-street report about Americans suffering under Biden\u2019s inflation, complaining about the \u201cburden\u201d it places on their families and the \u201cpinching\u201d everyone is doing to get by.<\/span><\/p>\n<p><span>\u201cI think that people are going to have to bring their cash to the store in a wheelbarrow,\u201d one resident of Washington D.C. joked.<\/span><\/p>\n<p><span>Other Americans interviewed by the Chinese state network talked about cutting meat from their diets, stockpiling toilet paper, driving less to conserve expensive gasoline, and scaling back their holiday shopping plans.<\/span><\/p>\n<p><span>\u201cPrices at gas pumps, grocery stores, restaurants, and more are all surging,\u201d Xinhua reported.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese state media warned on Friday that high U.S. inflation caused by President Joe Biden\u2019s policies is threatening the prosperity of the entire world. China\u2019s state-run Global Times gleefully noted &#8230;<\/p>\n","protected":false},"author":41,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1004021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1004021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1004021"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1004021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1004021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1004021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1004021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}