LOU: COMM DMIS

LOU: COMMUNMIS

LOU: COMMUNISS

LOU: COMMUNIST CHINA WINING

ABOUT PRESIDENT TRUMP'S INSIST

TENSE THAT THE CHINESE TRADE IN

A FAIR AND BALANCED MANNER AND

QUIT STEALING THINGS, AMERICAN

THINGS, AMERICAN STUFF,

$600 BILLION OF IT A YEAR.

THE CHINESE AMBASSADOR TO THE

UNITED STATES TELLING REUTERS,

QUOTE, IN THE LAST CENTURY WE

HAD TWO WORLD WARS AND IN

BETWEEN THEM THE GREAT

DEPRESSION.

I DON'T THINK ANYBODY SHOULD

REALLY TRY TO HAVE A REPETITION

OF HISTORY.

NOW THAT'S PRETTY CUTE AND

DESPERATE WHINING FROM A COUNTRY

HIDING BEHIND THE WORLD TRADE

ORGANIZATION AND THEIR SPECIAL

MARKET STATUS AS A DEVELOPING

NATION, AN EMERGING NATION, BY

GIVING THEM PREFERENTIAL

TREATMENT AS THEY STEAL HUNDREDS

OF BILLIONS OF DOLLARS A YEAR IN

AMERICAN INTELLECTUAL PROPERTY.

THE PROSPECT IS THAT THERE WILL

BE A HIGH STAKES MEETING BETWEEN

PRESIDENT XI JINPING AND

PRESIDENT TRUMP AT THE G20

MEETING IN ARGENTINA.

OUGHT TO BE INTERESTING.

TO TAKE THAT UP NOW, THAT

MEETING WHEN XI

MEETING BHEN XI

MEETING BETN XI

MEETING BETWEXI

MEETING BETWEEN XI AND TRUMP,

DR. MICHAEL PILLSBURY, DIRECTOR

OF THE CHINESE STRATDY AT THE

HUDSON INSTITUTE, THE AUTHOR OF

\"THE HUNDRED YEAR MARATHON.\"

IT IS GREAT TO SEE YOU MICHAEL.

I WANT TO SAY FIRST AND

FOREMOST, IT'S REALLY

EMBARRASSING TO HEAR THE CHINESE

WHINE LIKE THIS AND UTTER SUCH

GIBBERISH IN OFFICIAL FORM FROM

THEIR AMBASSADOR.

THE PRESIDENT'S TARIFFS ARE

WORKING, AREN'T THEY?

>> YES.

THERE IS A SENSE OF DESPERATION,

I THINK.

THEY DO SCARE PEOPLE.

WHEN THE CHINESE AMBASSADOR

RAISES THESE THINGS, YOU AND I

KNOW IT'S NOT TRUE BUT THERE ARE

PEOPLE WHO ARE SCARED.

LOU: WHO WOULD BE SCARED?

IT'S SURE AS HECK NOT PRESIDENT

TRUMP.

IT'S SURE NOT JOHN BOLTON.

>> NO.

PRESIDENT TRUMP, AS I THINK YOU

KNOW, HE'S BEEN ON TO THIS SINCE

THE YEAR 2000.

HE PUBLISHED A PIONEERING BOOK

USING SOME REALLY HARSH LANGUAGE

ABOUT TECHNOLOGY THEFT, A WHOLE

SERIES OF --

LOU: SO WHO IS AFRAID?

>> I'M SORRY TO TELL YOU THAT

GOLDMAN SACHS CROWD IS UPSET AND

\"THE WALL STREET JOURNAL\" TODAY

HAS A MAJOR EXPO SAY.

THE FORMER BOSS OF STEVE MNUCHIN

AND TODAY THERE'S A NUMBER, I

THINK IT'S 50 TIMES HANK POLSON

CALLS STEVE MNUCHIN.

LOU: YOU'RE A CHINA HAND.

I'M A POLITICAL HAND.

AND I JUST -- IT'S REALLY

STRAIGHTFORWARD.

LOOK WHO WAS CONCILIATORY WITH

THE CHINESE AND THE TRADE TALKS

LEADING UP TO WHAT WAS THE

PRESIDENT'S DECISION IF THEY'RE

GOING TO IGNORE HIM, YOU KNOW,

MNUCHIN WASN'T EXACTLY DIRECT

AND CLEAR.

HE WAS A LITTLE AMBIGUOUS IN HIS

DISCUSSIONS WITH THE CHINESE.

AND THE RESULT WAS THEY DIDN'T

DO A DAMN THING BECAUSE THEY

DIDN'T THINK THE PRESIDENT WAS

SERIOUS.

THAT'S GOLDMAN SACHS STYLE.

>> I TELL THE STORY IN \"HUNDRED

YEAR MARATHON\" OF 1993 WHEN BILL

CLINTON STARTED OUT REALLY

AGAINST CHINA AND NANCY PELOSI

WAS WITH HIM, HALF OF THE

CONGRESS, BOTH HOUSES REALLY

STARTED LEGISLATION AGAINST

CHINA.

BUT THE CHINESE SPLIT THE

CABINET AND THEY BROUGHT THE

TREASURY SECRETARY, ROBERT

RUBEN, BROUGHT THEM OVER --

LOU: DID YOU SAY GOLDMAN SACHS

AGAIN?

I'M SORRY.

>> IN THIS CASE IT WAS CITI

CORP.

>> IT WAS CITI CORP AFTERWARDS.

IT WAS ALSO THE CEO OF GOLDMAN

SACHS.

YOU DON'T WANT TO MISS A GOLDMAN

SACHS OPPORTUNITY LIKE THAT.

LET'S TURN VERY QUICKLY TO WHERE

WE ARE.

AND THAT IS A.

>> SATURDAY NIGHT.

LOU: I APPRECIATE THE COMPELLING

DRAMATIC LANGUAGE.

BUT WE GOT A DECISION TO MAKE.

ARE WE GOING TO BE AN

INDEPENDENT FREE NATION OR ARE

WE GOING TO BE PART OF A SUPPLY

CHAIN IN A GLOBAL ECONOMY RUN

FROM THE UNITED NATIONS?

>> A LOT DEPENDS ON THE POWER OF

PRESIDENT TRUMP.

I'M BETTING ON HIM.

I THINK HE SOLVED THIS PROBLEM

INITIALLY 18 YEARS AGO.

LOU: ABSOLUTELY.

>> I THINK HE'S QUITE

DETERMINED.

BUT A PRESIDENT CAN'T RUN EVERY

LITTLE THING.

HE'S GOT TO TRUST THE CABINET

AND --

LOU: I THINK HE'S NOT TO NOT

TRUST THEM.

THAT'S THE REAL ISSUE.

NOT TRUST THEM.

>> I'M SORRY

>> I'M WORRY

>> I'M WORRIED.

THE CHINESE ARE SMART.

THEY'VE BEEN TELEGRAPHING TODAY

SOME OF THE CONCESSIONS THEY'RE

GOING TO MAKE.

THE BASIC IDEA IS TO SAY CHINA

IS GOING TO OPEN UP ON ITS OWN

FOR ALL COUNTRIES AND IMPLY THAT

AMERICA IS NOT A SPECIAL

CONCESSION.

THIS IS PROBABLY NOT GOING TO

WORK BUT I'M LOOKING FORWARD TO

SATURDAY NIGHT AREN'T YOU FOR

THE DINNER AND THE ONE-ON-ONE

SESSION.

LOU: WHAT I'M REALLY LOOKING

FORWARD TO IS WHEN THE CHINESE

FINALLY REALIZE, AN AWARENESS

THAT THIS PRESIDENT IS NOT GOING

TO BE PLAYED AND THAT THEY'RE

GOING TO HAVE TO ACTUALLY QUIT

STEALING OR STUFF AS A CONDITION

TO TRADING WITH US.

LET'S HOPE IT'S NEAR AT HAND.

>> SOME CHINESE STILL THINK HE'S

BLUFFING THAT'S THE PROBLEM.

THE GOLDMAN SACHS CROWD --