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Kevin O'Leary, Chairman of O'Leary Ventures: Xi Jinping has deceived us: China is no longer a developing country, it is in an economic war with the United States and European countries, says Kevin O'Leary

Kevin O'Leary, Chairman of O'Leary Ventures: Xi Jinping has deceived us: China is no longer a developing country, it is in an economic war with the United States and European countries, says Kevin O'Leary

 


Kevin O'Leary, high-profile investor and chairman of O'Leary Ventures, recently criticized the World Trade Organization's (WTO) classification of China as a developing country during an interview on Fox Business, a Benzinga reported.

According to Benzinga, he ultimately made the argument that this outdated designation allows China to benefit from unfair advantages, such as subsidized loans funded by American taxpayers. Kevin O'Leary highlighted the fact that China is engaged in an economic war against the United States and European countries, while asserting that China is not a developing country.
Benzinga claimed that Kevin O'Leary expressed possible frustration with China's trade practices while claiming it was not honoring reciprocal agreements. Additionally, he also proposed using tariffs as a strategic tool to target sectors critical to Chinese employment, while suggesting that such measures could force the Chinese government to change its approach.
He also believes that a hard line is actually necessary for any future administration to effectively address these issues.

Highlighting the long-standing economic challenges facing the United States due to China's rise, Kevin O'Leary ultimately criticized previous administrations for inaction, Benzinga noted. He then called for a more aggressive policy toward China, while asserting that only tough measures would allow the United States to regain influence in its trade relations.

FAQ:

Which prominent investor recently criticized the World Trade Organization and why?
Kevin O'Leary, high-profile investor and chairman of O'Leary Ventures, recently criticized the World Trade Organization's (WTO) classification of China as a developing country.

What has Kevin OLeary expressed his frustration on recently?

Kevin O'Leary has expressed frustration with China's trade practices, while claiming it is not honoring reciprocal agreements.

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