US president warns about Chinese infrastructure spending
The US leader has warned Americans not to be caught unawares in the economy by the Chinese. He insists that more money needs to be invested in the US economy to be productive.
China may surpass us in infrastructure - Mr. Joe Biden
President Joe Biden has warned that the country might lag behind China in infrastructure financing if they don't step up their game. He spoke during a chat with some house leaders that the US needs to urgently upgrade the infrastructure. He said this is only possible if more funds are released to help the ailing US economy.
This message comes after President Biden's first call with the Chinese leader. Mr. Xi Jinping. During the call, the Chinese president took a serious stand on human rights accusations leveled against the Chinese country. He said both nations don't need a war, because it will be bad for everyone. According to the president
'' If we remain stagnant and refuse to move along with times, the Chinese will take our lunch.''
'' China is investing serious money running into billions of dollars in sectors like transportation, environmental and technology, what are we doing .''
US president wants more funding for employment and other social sectors
During his presidential campaign, he proposed spending $3 trillion over his four years to create more employments for America and invest in safe energy. The American society of engineers has maligned the country's performance in infrastructure and gave them a 'D' in a recent survey.
Also, the Global Economic forum in 2019 placed the US in the 13th position when measuring quality infrastructure among western nations. China has diverted serious financial commitments into metro rail systems, housing, and good roads. President Biden said' we need to match them in all sectors, and we need to do it now.
China has a 230 mile (ca. 370 km) rail per hour, we need to beat this'' The Chinese government has been able to recover fast despite the COVID-19 pandemic. Mr. Joe Biden is adamant his economic plan will be a success.