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"The US use of force is a clear overreaction and a serious violation of international practice," China's foreign ministry said Sunday about downing the balloon.
The Biden administration has reportedly halted approving licenses for US suppliers to export most items to Chinese tech company Huawei, and is weighing complete ban to cut Huawei off from all American suppliers, a sign that paranoid Washington has taken its relentless assault on the Chinese tech industry a step further and morphed it into a geopolitical battle for supremacy.
The once-a-year Spring Festival, China's most important traditional holiday, had just ended with a stunning rebound in consumer spending. Shopping malls, restaurants were thronging with shoppers, and overseas travelling companies across the world from Thailand, Singapore to Indonesia were also eagerly welcoming the return of Chinese travelers with their biggest smiles.
As more signs of recovery are emerging in the Chinese economy, economists have expressed optimism and confidence toward the nation's economic outlook in 2023, predicting that recent rapid recovery will be further boosted by various factors such as increased consumption, stabilized employment and continuous opening-up.
When China moved to optimize its COVID-19 response measures in early December and infections surged, foreign media outlets unleashed a tsunami of misinformation, fear-mongering and slander against China's anti-epidemic strategy over the past three years and its impact on the economy. Some overseas financial institutions even slashed forecast for China's economic growth in 2022.