Any other US President agreeing with the Chinese leader in saying “America is a declining nation” would be effectively ending his career. But not Trump.
On his own platform, Truth Social, Trump defended Xi’s claim, and took the opportunity to blame Biden. He also suggested the Iran war isn’t over yet. Here’s his entire post:
Objectively speaking, Xi Jinping didn’t need the American President’s validation of his worldview. The chart speaks for itself. CNY (the Chinese Yuan) has outperformed the dollar by a long shot.
Had he denied the obvious, Trump would have made a fool of himself. While China massively engaged in international trade to boost their economy, the US had to spend on fighting the crime waves generated by the open borders policies, with third world migrants overburdening the health and social aid systems.
China’s strong exports create constant demand for CNY. Overall, the Yuan was worldwide perceived as undervalued. Chinese authorities allowed gradual appreciation, instead of suppressing the boom. Significant capital inflows also contributed to the growth.
A weaker, softer USD (due to rate expectations and global factors) also helped CNY’s performance on the world stage. Not only that, but China proved an impressive geopolitical resilience, including their oil-related dynamics and trade positioning. And, in the end, their large FX reserves provided stability when other countries dwindled.
For the past 4 years, China wore the big boy pants, while other major powers have set their own knickers on fire and were forced to deal with the outcome.
