MARIA: WELCOME BACK.
WITH THE U.S. AND CHINA TALKING
TRADE THIS WEEK AND CRUCIAL
TALKS AHEAD OF THE KOREAN
PENINSULA MEETING BETWEEN THE
PRESIDENT AND KIM JONG-UN, WE
ARE WATCHING ASIA.
WE'RE BAG RIGHT NOW WITH HAYMAN
CAPITAL MANAGEMENT FOUNDER KYLE
BASS.
KYLE YOU'RE INVESTED IN CHINA,
IN HONG KONG.
TALK TO US FIRST ABOUT WHAT
YOU'VE WITNESSED IN TERMS OF THE
U.S.'S STANCE AGAINST CHINA AND
WHAT CHINA DOES IN TERMS OF
INTELLECTUAL PROPERTY THEFT AS
WELL AS THE TRADE DEFICIT,
$375 BILLION DEFICIT WITH THE
U.S.
>> RIGHT.
IF YOU LOOK AT THE U.S., YOU
KNOW, CURRENT ACCOUNT BALANCE,
WHICH, YOU KNOW BALANCE OF TRADE
IS ONE OF THOSE KEY INPUTS AND A
KEY DRIVER, WE ARE BASICALLY
SEEDING WE THINK 450 BAIL
ONDOLLARS A YEAR OF OUR WEGHT TO
MOSTLY SOUTHEAST ASIA, A LITTLE
BIT TO MEXICO.
AND OUR POLICY WITH CHINA -- WE
ALLOW CHINA TO SEND TO THE WTO
IN 2000, IS ONE OF BEING A PASS
PASSIVIST.
IT GOES BACK TO KISSINGER, EXCEL
IT GOES BACK TO KISSINGER, EXCEA
IT GOES BACK TO KISSINGER, EXCEK
ACCELERATING UNDER OBAMA.
FIRST WHAT WAS HAPPENING WAS IT
WAS JUST CHEAPER TO MAKE THINGS
OVER THERE.
AND CHINA PLAYS THE LONG GAME.
THEY RUN A GIANT TRADE IMBALANCE
WITH US BUT THEY STEAL OUR
INTELLECTUAL PROPERTY.
WHETHER YOU LOOK AT THE
BIPARTISAN COMMISSION THAT WAS
PUT TOGETHER UNDER PRESIDENT
OBAMA OR IF YOU LOOK AT THE
COUNCIL OF ECONOMIC ADVISERS OR
THE DEPARTMENT OF DEFENSE
REPORTS OVER THE LAST, CALL IT,
12 MONTHS TWHRB'S
12 MONTHS THERB'S
12 MONTHS THERE'S A CONSENSUS
THAT IP THEFT FROM THE U.S. TO
CHINA HAS BEEN RIGHT AROUND 3 TO
$500 BILLION A YEAR.
3 TO 500 BILLION.
MARIA: THAT'S A BIG NUMBER.
>> IT'S A NUMBER THAT'S
UNCONSCIONABLE.
AND YET THE NARRATIVE THAT CHINA
DEVELOPS IN THE PAST THAT WE'RE
AN OPEN SOCIETY, AN OPEN ECONOMY
AND WE NEED TO CONTINUE
GLOBALIZATION AND FREE TRADE.
WHAT CHINA IS SAYING WE NEED TO
KEEP STEALING AS MUCH AS WE CAN
FROM YOU, WE NEED TO KEEP
RUNNING THE LARGEST TRADE
DEFICIT THAT WE CAN.
AND BASICALLY WE'RE GOING TO BE
PUT INTO A SUR VILE NATION IF WE
DON'T ACT.
AND I APPLAUD THE ACTIONS OF
LIGHTHOUSE
LIGHTHIZSE
LIGHTHIZER AND TRUMP AND
EVERYONE GETTING TOUGHER WITH
THEM.
IT'S HARD TO SAY THE EXPHIKS
SUGGEST WE COULD KEEP PIEING
CHEAP THINGS FROM CHINA.
BUT THE SOVEREIGN IMPLICATIONS
ARE SO LARGE THAT WE NEED TO
WAKE UP AND APPLAUD WHAT THEY'RE
DOING.
MARIA: AND THAT'S WHY THE U.S.
BLOCKED A DEAL BETWEEN QUALCOMM
AND BROAD COME.
COME.
THERE WERE NATIONAL SECURITY
ISSUES AROUND THAT DEAL.
AND CHINA PARTICIPATES IN 10% TO
11% OF ALL CAPITAL DEALS.
THEY'RE INVESTING IN INVEIGH
TIFF COMPANIES IN THE U.S.,
TRANSFERRING THEIR TECHNOLOGY
AND INVASION TO CHINA AND
BEATING US AT OUR OWN GAME.
THE TROUBLING THING IS NAY EAR
DOING THIS IN AI, ROBOTICS, ALL
OF THE INDUSTRIES THAT WE'RE
COUNTING ON TOMORROW TO GROW.
>> THESE EXACTLY RIGHT.
YOU KNOW, THERE ARE A FEW
INTERESTING POINTS THAT YOU JUST
MADE.
WHEN YOU'RE LOOKING AT AI ON
ARVR, SEMI CONDUCTORS, ROBOTICS
WHERE THEY HAVE ENORMOUS
INVESTMENTS, THEY'RE INVESTING
IN THE U.S. THROUGH VENTURE
CAPITAL ARMS SET UP, THERE ARE
MANY CHINESE NATIONALS IN OUR
LABS FUNDED BY THE U.S.
WE DON'T HAVE A CALL IT HUMAN
MANAGEMENT POLICY FOR DEFENSE
AND WE MUST LEGISLATE ONE.
WE MUST CHANGE RECEIVE YOUS.
WE MUST FUND FROM CONGRESS
INSTEAD OF THE AGENTS THAT ARE
MEMBERS OF THE ORGANIZATION.
HERE'S THE GOOD NEWS.
WE'RE WORKING ON IT.
MARIA: GOOD FOR THE TRUMP
ADMINISTRATION TO PUSH BACK.
BECAUSE EVERYBODY GETS THIS.
WE KNOW CHINA HAS BEEN STEALING