FORMER NEW YORK CITY MAYOR, RUDY
GULIANI, MY GUEST AT 8:00 A.M.
THIS MORNING.
WE'LL PUT THOSE QUESTIONS TO
RUDY GULIANI.
TREASURY SECRETARY STEVEN
MNUCHIN HAS ARRIVED IN BEIJING
FOR TRADE TALKS WITH CHINESE
OFFICIALS.
THE MEETINGS ARE EXPECTED TO
COVER A RANGE OF U.S. COMPLAINTS
ON CHINA'S TRADE PRACTICES.
SECRETARY MNUCHIN OUTLINED HIS
EXPECTATIONS WHEN I TALKED TO
HIM EARLIER THIS WEEK.
>> I'M CAUTIOUSLY OPTIMISTIC
ABOUT THE MEETINGS.
WE'RE GOING TO GO OVER THERE.
WE'RE GOING TO HAVE FRANKS FRANK
DISCUSSIONS.
THESE -- FRANK DISCUSSIONS.
THESE ARE ISSUES THAT PRESIDENT
TRUMP HAS BEEN FOCUSED ON FOR
OVER THE LAST YEAR AND HOPEFULLY
WE'LL MAKE SIGNIFICANT PROGRESS.
WE'RE GOING THERE TO MAKE
PROGRESS.
THAT'S OUR OBJECTIVE.
>> MARIA: PRESIDENT TRUMP
TWEETED ABOUT IT LAST NIGHT, OUR
GREAT FINANCIAL TEAM IS IN CHINA
TRYING TO NEGOTIATE A LEVEL
PLAYING FIELD ON TRADE.
I LOOK FORWARD TO BEING WITH
PRESIDENT SHY IN
PRESIDENT XHY IN
PRESIDENT XIY IN
PRESIDENT XI IIN
PRESIDENT XI INN
PRESIDENT XI IN THE NOT TOO
DISTANT FUTURE.
JOINING ME NOW IS FORMER CEO OF
FAMOUS DAVE'S BARBECUE, ED
RENSEY.
THANKS FOR JOINING US.
>> GOOD MORNING.
EXCITING TIMES, HUH?
>> MARIA: IT SURE IS.
YOU VISITED CHINA.
YOU DEALT WITH CHINESE MARKETS.
HOW DO YOU EXPECT THE MEETINGS
TO GO?
DO YOU THINK CHINA RESPONDS IN A
FAVORABLE WAY TO MAKE THINGS
MORE BALANCED?
>> YES, I DO, ACTUALLY.
I THINK THE CHINESE ARE
ENTREPRENEURIAL IN A LOT OF
WAYS.
IT'S AN INDUSTRIOUS SOCIETY.
THEY KNOW THEY NEED TO
MODERNIZE.
I THINK THEY NEED THE UNITED
STATES MARKET TO CONTINUE TO
KEEP THE ECONOMIC ENGINE GOING.
I THINK TRUMP IS FULFILLING ALL
OF HIS STRATEGIC DIRECTIONS OF
REGULATION REDUCTION, TAX
REDUCTIONS AND NOW FAIR TRADE.
HE BELIEVES IN FREE, FAIR TRADE
AND I THINK HE'S GOT A GREAT
TEAM OVER THERE AND I THINK THE
CHINESE ARE LISTENING VERY
CAREFULLY.
>> MARIA: WHAT DO YOU THINK THE
MOST EGREGIOUS --
>> THE CHINESE HELP US
TREMENDOUSLY WITH NORTH KOREA.
YOU CAN SEE THE RESULT OF THAT.
>> MARIA: THAT'S TRUE.
MAYBE THERE'S GOODWILL THERE AS
A RESULT OF THAT MOVE IN REGARDS
TO NORTH KOREA.
WHERE DO YOU THINK THE MOST
EGREGIOUS ISSUES AROUND CHINA
RIGHT NOW AND WHERE DO YOU THINK
THEY'LL ACTUALLY MOVE THE
NEEDLE?
IS IT OPENING UP MARKETS?
IS IT THE TRANSFER OF
TECHNOLOGY?
IS IT THAT DEFICIT, $375 BILLION
TRADE DEFICIT.
WHERE DO YOU THINK THEY MOVE THE
NEEDLE?
>> I THINK THE BIGGEST CONCERN I
HAVE AND A LOT OF PEOPLE HAVE IS
THE THEFT OF INTELLECTUAL
PROPERTY AND THE TRANSFER OF
TECHNOLOGY OUT OF THE UNITED
STATES WITHOUT OUR CONTROL.
THAT'S A HUGE ISSUE.
THEY'RE GETTING AN UNFAIR
ADVANTAGE FROM THAT.
I THINK IT'S GOT TO BE ADDRESSED
VERY, VERY DIRECTLY.
AFTER THAT, THE IMBALANCE IN THE
TRADE, I THINK IT WILL BE
MANAGED IN SOME FASHION.
I THINK THE CHINESE ARE GOING TO
GIVE US A LITTLE BIT, SO THERE'S
GOOD HEADLINES.
BUT IT'S GOING TO BE AN ONGOING
NEGOTIATING PROCESS.
WE'VE GOT A GREAT TEAM OVER
THERE.
THIS WON'T BE THE LAST MEETING
THESE FOLKS HAVE ON THIS ISSUE.
>> HE'D, THIS IS JASON.
I WANTED TO TRANSITION.
McDONALD'S PUT UP IMPRESSIVE
NUMBERS OF 5% IN-STORE GROWTH,
THE INTERNATIONAL COMPONENT.
WHAT DO YOU SEE HAPPENING THERE
NOT ONLY WITH McDONALD'S BUT
ALSO THE SECTOR WITH WHICH
YOU'RE INVOLVED?
>> FOOD AWAY FROM HOME IS GOING
TO CONTINUE TO GROW BECAUSE IT'S
SO CONVENIENT.
STEVE EASTERBROOK CAME TO
McDONALD'S IN 2015, IN THE
LAST THREE YEARS HE'S DONE A
FABULOUS JOB OF REORIENTING THE
COMPANY, ALTERING THE CULTURE,
MAKING A HUGE PUSH TO GET RID OF
THE COMPANY OPERATIONS BECAUSE
THE GREAT BENEFIT OF
McDONALD'S IS THE FRANCHISEES.
THE FRAN CHAI
THE FRANCCHAI
THE FRANCHIAI
THE FRANCHISEES KEEP THE COMPANY
STRONG.
INTERNATIONAL GROWTH IS GOING TO
CONTINUE BECAUSE McDON AT McDONL
CONTINUE BECAUSE McDON AT McDON'
CONTINUE BECAUSE McDON AT McDONS
PROVIDES A GREAT SERVICE, GREAT
QUALITY OF FOOD, IT'S ACCESSIBLE
AND AFFORDABLE.
I THINK THE COMPANY WILL
CONTINUE TO GROW AND GET
STRONGER AND STRONGER.
>> JAMES FREEMAN HERE.
I WANT TO GET BACK TO CHAI
I WANT TO GET BACK TO CHII
I WANT TO GET BACK TO CHINA FOR
A QUESTION.
WHEN YOU WERE DEALING THERE, I
ASSUME YOU WERE HOPING BY NOW IT
WOULD BE NOT JUST A MORE OPEN
ECONOMY BUT MAYBE A MORE OPEN
DEMOCRATIC POLITICAL SYSTEM.
DO YOU SEE ANY HOPES FOR REFORM
THERE?
>> LOOK, THEIR CULTURE IS TENS
OF THOUSANDS OF YEARS OLD AND
OURS IS 200 YEARS OLD.
THEY'RE GOING TO FIND THEIR WAY.
YOU CAN'T CHANGE THE CULTURE
DRAMATICALLY.
I THINK THERE'S A LOT MORE
FREEDOM IN CHINA TODAY THAN
EVER.
I WAS IN SHANGHAI.
I WAS ON THE BOARD OF DIRECTORS
OF SNAP-ON TOOLS.
THEY'VE GOT FABULOUS FACILITIES
THERE.
THE LOCAL GOVERNMENTS WORK WELL
WITH AMERICAN BUSINESSES.
IT WILL NEVER BE A DEMOCRACY.
IT NEVER WILL BE.
THEY CAN BECOME MORE DEMOCRATIC
IN THEIR HE BEHAVIOR AND I THINK
THEY ARE.
ECONOMICS IS A GREAT LEVELER.
>> MARIA: GOOD POINT.
ED, THANKS SO MUCH.