Islam Times - John Bolton says China has 'real weakness in economy'

Islam Times - Former US ambassador to the UN John Bolton has lashed out at China for manipulation of its currency, saying the country has a “real weakness in the economy.”

“I think a lot of their statistics are just made up, and I think the collapse in the stock market is an indication of that,” he said on Sunday.

Washington accuses Beijing of currency manipulation during the past years, an allegation denied by Chinese officials.

Bolton, however, warned American officials about the growing power of China in Asia, calling on the US to strengthen its presence in the region.

“Asia is going to be increasingly important for America, for our economy, for our political and military wellbeing as well,” he said.

“This is a huge area where the United States has an enormous interest. We have friends like Japan, South Korea, Taiwan, Singapore that feel threatened by a rising China. We need to have a debate about how to deal with this, why we need a strong American presence,” Bolton added.

The United States accuses China of lowering the price of its exports by manipulating its currency.

As Washington pressures Beijing over the Chinese currency, China accuses the US of turning the yuan into a scapegoat for its own economic problems.

Bolton also urged US presidential candidates to have plans for the rising power of China.

“We need to have a debate about how to deal with this. I hope the candidates take it up as time goes on,” he said.