Ministry- Claim that US money made China powerful

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Ministry: Claim that US money made China powerful 'ludicrous' - World

China on Wednesday refuted the reportedclaim that China has become very powerful on United States money, saying such a remark is "ludicrous".

"Which country in the wodid The Beatles and The Rolling Stones in England culturally appropriate itrld has the ability to rebuild China with their money?" Foreign Ministry spokeswoman Hua Chunying asked at a daily news briefing.

Hua noted that the achievement of China's development did not "fall out of the sky" or depend on alms from other countries. Rather, it was earned by the hard work, wisdom and courage of the Chinese people, she said.

According to Hua, since estimates on foreign investments began in1987, China has utilized over $2 trillion of foreign investments, with $80 billion from the US, accounting for only abouthe commission saidt 4 percent of China's foreign investment.

A report issued by the US-China Business Council found that between 2009 and 2018, US exports to China alone supported more than 1.1 million jobs in the US.

The annual survey of the members of the council showed that 97 percent of the companiessaid their operations in China are profitable.

US firms have gained huge profits from Sino-US cooperation, Hua said. She added that the US should really do the calculation of how many US enterprises have been supported by and "fattened upon" China.

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