Washington is reliant on China to help solve its economic doldrums, the Global Times wrote in an editorial late Tuesday which also underlined the need for the world’s two largest economies to cooperate and work closely together.
“With so many voices calling the Biden administration “economically incompetent,” some political analysts believe that inflation could be enough to ruin the Democratic Party in the midterm elections if prices stay high,” the editorial reads.
“As a result, the Biden administration will have to turn to China again. This is a direction that benefits everyone, but China clearly has the upper hand.”
The editorial follows requests made by the Joe Biden administration to some of the world’s largest oil-using countries including China to release stockpiles from their strategic reserves to lower prices and boost the global economy.
The United States and Canada have also said that they would boost oil production to counter a lack of agency on the part of Russia and OPEC.
The editorial goes on to call for closer economic ties between the US and China and not regress back to the confrontations made normal during the Trump presidency.
“The case is the epitome of how the US and China have a lot of common economic interests and how much the US needs China’s help to solve its problems. It simply will not work if the Biden administration continues the brutal “decoupling” strategy of the Trump era.”
The Global Times is a Chinese government-run newspaper.