Treasury Chief Bessent Says Chinese Model ‘Imploding,’ Blasts EU Rules

US Treasury Secretary Bessent on 30 July sharply criticized the economic outlooks of both China and Europe, saying Beijing’s growth model is “beginning to implode” and describing the European Union as a “regulatory morass.” Bessent added that the United States has “not seen an unbalanced economy like China since the 1800s,” underscoring concern in Washington over mounting financial imbalances and policy rigidity in the world’s second-largest economy. Her comments, delivered Wednesday, come as global investors weigh the durability of China’s post-pandemic recovery and the impact of Europe’s tightening rule-making on competitiveness.