Dragon's economy is declining dramatically, US MP said - China will have to give up aggression

China's economy is declining rapidly. This claim has been made by US Indian-origin MP Raja Krishnamurthy. China's economy is declining dramatically and now it has only two options, either it continue aggression against its neighbors or improves its economy and reduces its aggression.

Raja Krishnamurthy said that 'China's economy is slowing down, and this slowdown is to such an extent that China's economy can reach the brink of deflation (fall in prices of goods and services) in many sectors. Consumers are losing confidence in the economy. The unemployment rate in China has exceeded 25 percent. This is a very bad figure.' He said, 'China has taken a huge loan, especially at the provincial and local level. Also, the total wealth of people, which is mostly invested in real estate, has declined significantly.'

Krishnamurthy said that 'China's supreme leader Xi Jinping is facing a lot of difficulties due to the poor condition of the economy.' Krishnamurthy, a four-time MP representing Illinois, USA, is also a member of the parliamentary committee on strategic competition between the United States and the Chinese Communist Party.

Raja Krishnamurthy said, 'Xi Jinping has two options. Either, on the one hand, he continues on the current path, which is increasing economic aggression, increasing technological and military aggression towards neighbors, and establishing more control over almost all areas of the economy and life. Or he can adopt another way, which includes steps like reducing aggression, reducing control, allowing entrepreneurship to flourish again.' Raja Krishnamurthy referred to China's aggression in the South China Sea. He also mentioned the ongoing border dispute with the Philippines and the ongoing tension with India in Ladakh and targeted China.