White House economic adviser Larry Kudlow says the Chinese economy "looks terrible."
Asked by President Donald Trump to assess China's prospects this week at a cabinet meeting, Kudlow asserted that "their economy is just heading south," citing "the latest batch of numbers" from China's markets.
"I'm not a China expert, although I'm boning up as fast as I can, I would just say right now their economy looks terrible," the National Economic Council Director said.
Kudlow also said the latest data showed that "retail sales, business investment is collapsing."
"People are selling their currency... investors are moving out of China because they don't like the economy, and they're coming to the USA because they like our economy," said Kudlow, who worked as Reagan’s budget deputy between 1981 and 1985.