Mitt Romney accused China of stealing America's inventions on Thursday, threatening trade sanctions between the countries, and inflaming voter's economic fears.

The Republican presidential candidate said during a speech that the world's No. 2 economy should halt what he referred to as currency manipulation, unfair subsidies, and intellectual property theft, reports Business Week.

"On day one of my administration," Romney said speaking to a crowd of Microsoft Corp employees, "I would designate China as a currency manipulator."

This was some of Romney's toughest language yet.

"I would apply countervailing duties on Chinese goods where they have stolen intellectual propery or where their currency manipulation is killing American businesses and jobs unfairly," he said, reports Reuters.

Analysts believe that the attack on China was in part due to the U.S. public's concern over China's economic and military rise.

The U.S. senate approved a controversial bill that would force China to raise the value of the yuan earlier this week.

Reports GlobalPost's Kathleen McLaughlin in Beijing:

Chinese officials have warned that the bill, which appears unlikely to make it through the House of Representatives, would cost American jobs and spark a trade war between the two countries. American lawmakers, tired of the slow pace of China’s currency liberation, are seeking a change in the system that many believe gives China a trade advantage by keeping its yuan pegged below its true value.

However, Romney dismissed the legislation on an entirely different basis.

"We don't need new legislation, we need a new president," he said.

However, Jon Hunstman Jr, former Utah governor, and former ambassador to China under President Obama, criticized Romney's position, writes the Washington Post.

"First of all, I don't' subscribe to the Donald Trump School or the Mitt Romney school of international trade. I don't want to find ourselves in a trade war," Huntsman said on Tuesday.