Scott Bessent Says It’s ‘China Versus The World’—Then Why’s Bitcoin Down To $111,000?
U.S. Treasury Secretary Bessent on Wednesday said that the recent stock market decline will not influence Washington’s China policy, while Bitcoin (CRYPTO: BTC) languishes around $111,000 as traders hope for a potential October rebound.
Bessent Rejects Market Pressure, Calls For Allied Response
Speaking during IMF World Bank Week, Bessent said investors were overly focused on the latest market pullback and trade friction with Beijing.
“The market lately has been more concerned about trade than the government shutdown,” he noted, adding that recent rare-earth export restrictions from China were part of a broader geopolitical play.
Bessent said China’s retaliatory stance stemmed from an August threat by a “lower-level trade person” and confirmed that the U.S. and its allies plan a coordinated response.
“This is China versus the world,” he said. “We have things more powerful than …
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