China has accused the US of making irresponsible remarks after a top official at the US Treasury Department accused Beijing of expanding government control over the Chinese economy.
Speaking at The Institute of International Finance, David Malpass, the US Undersecretary for International Affairs, had slammed China’s investment rules that restrict access for foreign firms, saying this “makes it very hard for the world to invest in China” in ways that are compatible with the investor country’s laws.
Malpass also told the conference that an increasing amount of state control over China’s economy, coupled with the end of term limits for President Xi Jinping, was “worrisome to the world.”
He said “having such a big economy in the world move away from markets has not been good for us and the world and will continue to cause difficulty.”
“Our invitation is for the world to recognize this and also for China to recognize this commercially and move…