Why is the US economy not affected by China's recovery?

On January 22, Director of the White House National Economic Council (NEC) Lael Brainard commented that China's lackluster economic recovery has no significant impact on the US economy.

China's slow recovery has not had a major impact on the US economy. (Source: Globaltimes)

Speaking at an event hosted by the Brookings Institution, Brainard said that other countries in Asia and those closely linked to China's growth will feel the impact more strongly.

The world's second-largest economy is forecast to grow 5.2% in 2023 - a relatively slow growth rate.

Beijing faces a deepening property crisis; weakening consumer and business confidence; rising local government debt and persistent deflation risks.

Entering this year, the Chinese economy remains in a state of uncertainty. Morgan Stanley bank said that Beijing is under persistent downward pressure, also the country's longest deflation since the Asian financial crisis of 1997-1998.

"The world's largest economy has been diversifying over the past few years and that has been reflected in various data. China's lackluster recovery does not affect the US economy," the NEC director affirmed.

Source: https://baoquocte.vn/kinh-te-my-khong-bi-anh-huong-boi-da-phuc-hoi-cua-trung-quoc-nguyen-nhan-vi-sao-258455.html