Trump: We've let China take over our economy

Republican presidential candidate Donald Trump on what is needed to boost U.S. economic growth.

Trump: U.S. in a Big Fat Ugly Bubble and being Controlled by China

By Election FOXBusiness

The markets are tanking and there’s turmoil all around the world -- and according to Donald Trump it’s all because we are letting China and other countries like Japan and Mexico take over our economy.

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“We are no longer controlling our own destiny. We are in a big sphere of other countries all over the world that control us… and they have tremendous power over manipulation of their currencies and we are into that web,” he said during an interview with the FOX Business Network’s Stuart Varney.

When asked whether the world financial turmoil is Fed Chairman Janet Yellen’s fault he said,“we are right now in a big fat ugly bubble and we’re controlled largely by Asia and by countries like China… And they manipulate their currency and we don’t.”

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He also discussed why he thinks the 5% unemployment rate is “phony.”

“They were put up by politicians in order to look good but they don’t talk about all of the people that can’t find jobs. He added, “If you add up all of the people that have looked for jobs and cannot find them and now have given up looking, you’re talking about an employment rate that could be a size of 25%.”

According to Trump, lower taxes will lead to job creation.

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“Businesses are leaving the United States -- corporate inversions. The United States right now is going to lose tremendous numbers of companies,” he said. 

 

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