China’s Xi Jinping will do ‘whatever it takes’ to maintain control: Former National Economic Council director
China has increased business regulations and restrictions in recent weeks
China’s Xi Jinping will do ‘whatever it takes’ to maintain control: Larry Lindsey
Former National Economic Council director and The Lindsey Group CEO Larry Lindsey weighs in on China and how the Biden administration is approaching relations with the country.
Former National Economic Council director Larry Lindsey argued new Chinese business regulations and restrictions covering anti-trust, data security and more shouldn’t surprise the business world on FOX Business’ "Mornings with Maria" Friday.
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LARRY LINDSEY: In my opinion, we should not have been surprised at what's happening [with China’s new regulations on businesses]. The Chinese Communist Party's primary mission now under Xi Jinping is control. And a lot of these companies were threatening the control of the Communist Party.
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Jinping and company are just not going to stand for it. They're going to do whatever it takes to maintain their control.
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There's just hasn't been any action [from the Biden administration]. And the problem with our extremely easy money policy is that at some point, it's going to erode confidence in the Fed as a credible central bank. So in that sense, in the long run, not in the short run, but in the long run, what we're now going through in fiscal and monetary policy is going to help Xi Jinping in his objective here.
WATCH THE ENTIRE INTERVIEW BELOW:
Former National Economic Council director on China, economy, jobs report
Former National Economic Council director and The Lindsey Group CEO Larry Lindsey on China, infrastructure spending, evictions and what to expect from July jobs report.