TALK.
BACK TO YOU.
MARIA: BLAKE BURMAN WITH THE
LATEST THERE, WANT TO A TURN
ABROAD CHINA WARNING A TRADE
WAR WOULD BE QUOTE A DISASTER,
FOR U.S. AND WORLD, AFTER
PRESIDENT TRUMP SET TARIFFS ON
STEEL AND ALUMINUM IMPORTS
LAST WEEK, JOINING US RIGHT
NOW TO WEIGH IN AUTHOR OF THE
COMING COLLAPSE OF CHINA
GORDON CHIANG THANKS FOR
JOINING US YOUR REACTION TO
THIS REACTION.
>> LAST YEAR 88.8% CHINA
OVERALL MERCHANDISE TRADE
SURPLUS ROTATED SALES FROM
UNITED STATES UP FROM 68.0% IN
YEAR BEFORE, YOU KNOW, WE HAVE
ALL HIGH CARDS, AND THE ONLY
THING WE DON'T HAVE IS
POLITICAL WILL.
SO I DON'T THINK THE CHINESE
ARE IN ANY POSITION TO REALLY
MAINTAIN EXTENDED TRADE WAR
WITH UNITED STATES LARGELY AS
YOU BECAUSE WE KNOW IN TRADE
WARS TRADE DEFICIT COUNTRIES
DO VERY WELL TRADES SURPLUS
COUNTRIES DO VERY POORLY WE
KNOW IN LAST GREAT TRADE WAR
GREAT THE DEPRESSION WE ARE
THE ONE GOT HURT THE MOST.
>> THE U.S. IS ASKING CHINA
APPARENTLY, SO LOWER THE
DEFICIT, NOW 375 BILLION
DOLLARS CHINA LOWER THAT BY
100 BILLION DOLLARS, NOT GOING
TO HAPPEN?
>> IT IS NOT GOING TO HAPPEN
THAT WAY BY TRUMP GETTING ON
PHONE WITH XI JINPING SAYING
GIVE ME 100 BILLION DOLLARS OF
TRADE, I THINK THE PROBLEM
HERE IS THAT THE CHINESE
ECONOMY HAS BEEN CLOSING OFF
MADE IN CHINA 2025 TRAY ANY OF
THE BASICALLY TO DOMINATE 10
CRITICAL ASSOCIATES NATIONAL
SECURITY LAWS REGULATIONS
PLAYED AGAINST FOREIGN
COMPANIES SO THERE ARE ISSUES
THERE, AND ON TOP OF THAT, YOU
NOW HAVE, OF COURSE THE
INVESTIGATION IF CHINA THEFT
INTELLECTUAL PROPERTY PROBABLY
CONCLUDES THIS YEAR GOING TO
BE A MAJOR ITEM DWARFING
TARIFFS.
>> YOU ARE RIGHT I'VE GOT THIS
REPORT I FIND FASCINATING
CHINA TECHNOLOGY TRANSFER
STRATEGY, BASICALLY, THEY ARE
PARTICIPATING IN VENTURE
BACKED START-UPS RECORD LEVEL
7 TO 10% VENTURE DEALS DONE IN
2016 I BELIEVE IS THE LAST --
THE LAST FIVE YEARS ACTUALLY
SO WHAT SHOULD THIS
ADMINISTRATION DO TO PUSH BACK
CHINA'S STEALING OUR
INTELLECTUAL PROPERTY TRYING
TO ACQUIRE TECHNOLOGY AND
COMPETE WITH US IN THOSE
INDUSTRIES.
>> WELL YOU KNOW WITH REGARD
TO THE TO 301 INVESTIGATION I
THINK ESSENTIALLY THE TARIFFS
OR THE PROHIBITIONS ON TRADE
WITH CERTAIN ENS THAT THEY
HAVE GOT TO BE STIFF
ENTERPRISES STIFF WE LOSE 3
AND 600 BILLION DOLLARS A YEAR
IN INTELLECTUAL PROPERTY THEFT
TO THE CHINESE.
THAT MEANS, IT BE PUNISHMENTSS
HAVE TO BE BIG WITH REGARD TO
CHINESE TAKING TECHNOLOGY
BUYING IT WE KNOW THAT -- THE
COMMITTEE HE ON FOREIGN
INVESTMENT IN UNITED STATES
HAS TAKEN A VERY TOUGH
ATTITUDE FROM ABOUT LAST YEAR
OBAMA ADMINISTRATION, ALL THE
WAY THROUGH NOW, AND WE SEE
THIS FOR INSTANCE, WITH THE
STOMPING THE QUALCOMM-BROADCOM
DEAL IN CHINA CHINA WAS GOING
TO BE BERK BECAUSE
TO BE BERK BECAUS
TO BE BERKSHECAUS
TO BE BERKSHIRAUS
TO BE BERKSHIRE S
TO BE BERKSHIRE HA
TO BE BERKSHIRE HATH
TO BE BERKSHIRE HATHAW
TO BE BERKSHIRE HATHAWAY
TO BE BERKSHIRE HATHAWAY -
TO BE BERKSHIRE HATHAWAY --
THE BERK IF QUALCOMM BUYS IT
BREAK IT APART MAKE IT
DIFFICULT TO COMPETE AGAINST
THE CHINESE COMPANY.
>> BROADCOM IN SINGAPORE.
>> IN SINGAPORE, IT IS GOING
TO BE REDO MESS INDICATED.
>> BROADCOM HAS BUSINESS MODEL
BREAKING UP REALIZING THE
SHAREHOLDER VALUE IN THE
PARTS, QUALCOMM WILL NOT BE
ABLE TO COMPETE IN FIVEG IF
BROADCOM BUYS IT SPLITS IT UP.
>> A BIG DEAL.
>> IT IS NORMAL BECAUSE 5G IS
GOING TO CONNECT EVERYTHING IN
YOUR HOME IN YOUR WORKPLACE.
>> QUAYLE QUAYLE ABUYERS
PROGRAMMATIC
PROGRAMMATI
AACQUIRES BROADCOM YOU DON'T
THINK COMPETE --
>> I THINK PRETTY CLEAR
GETTING SUPPORT FROM CHINESE
GOVERNMENT A PRIVATE COMPANY
SO CONNECTED WITH PEOPLE'S
LIBERATION ARMY IT IS IN
EFFECT STATE ENTERPRISE, SO
THEREFORE THIS IS NOT A FAIR
FIGHT, ESPECIALLY, IF QUALCOMM
GETS TAKEN APART.
>> YOU SAID THAT, A PRIVATE
COMPANY WITH STRAIGHT FACE I
GIVE YOU CREDIT FOR THAT VERY
GOOD.
>> MY WIFE REALLY SORT OF
COACH ME ON THAT I WOULD GET
UPSET BUT SHE SAYS YOU CAN'T
GET UPSET.
>> THIS IS A LITTLE BIT OFF
CHINA TRADE TOPIC, BUT STILL
IN THE -- WHAT IS YOUR TAKE ON
THE REMOVAL OF TERM LIMITS IN
CHINA?
>> THIS IS XI JINPING PEOPLE
SIGH HE WANTS TO BE MAO IN
RECENT YEARS TALKING LIKE
CHINESE EMPORERS, TWO
MILLENNIA IMPERIAL RULE TAKING
ABOUT PROHIBITSING THAT CHINA
IS THE ONLY SOVEREIGN IN THE
WORLD THIS IS BREATH TAKING
LUD CRUZ -- LUDICROUS WHAT HE
IS SAYING HE THINKS WE ARE --
THIS IS EXCEEDINGLY
EXCEEDINGLY DANGEROUS, THIS
POSES NOT ONLY THAT WE CALL
CHINA A RESTRICTIVELY
CHINA A RESTRICTIVEL
CHINA A RIVTRICTIVEL
CHINA A RIVALICTIVEL
CHINA A RIVAL.CTIVEL
>> HOW DOES THIS SPECIFICALLY
AFFECT CHINA U.S. RELATIONS IF
AT ALL?
>> HOW DOES THIS IMPACT US?
>> I THINK IT IMPACTS US IN A
COUPLE OF WAYS, BECAUSE, FIRST
OF ALL, XI JINPING HAS BEEN
ONE RESPONSIBLE FOR CLOSING UP
CHINESE ECONOMY GETS MORE
POWER, HE IS GOING TO BE MORE
EFFECTIVE AND DOING THAT, HAD
A VERY BELLIGERENT EXTERNAL
POLICY CHALLENGES NOT ONLY
CHINA NEIGHBORS TO SOUTH AND
EAST TRYING TO CLOSE OFF
GLOBAL COMMON SENSE PUTS HIM
IF CONFLICT WITH US IF WE HAD
ANY CONSISTENT FOREIGN POLICY
OVER COURSE OF TWO AND A HALF
CENTURIES HAS BEEN DEFENDING
FREEDOM YOU IN AVIATION
CHINESE MILITARY SPO XI
JINPING LOOKS HOSTILE LOOKS
BAD FOR EVERYBODY.
>> YOU MENTIONED CHINA HOLDS
ALL HIGH CARDS, I THINK THAT
IS WHAT YOU SAID.
>> NO, WE HOLD HIGH CARDS.
>> HERE IS HIGH CARD THEY DO
HOLD THE 1.2 TRILLION DOLLARS
WORTH OF TREASURY IS THAT A --
>> NO, NOT AT ALL THEY HAVE
BEEN SELLING TREASURYS SINCE
MIDDLE OF 2014 TO DEFEND
RENMINBI FRAGILE, FOREIGNER
EXCHANGE RESERVES THEY SAY
COME DOWN 800 BILLION PROBABLY
A LOT MORE, I KNOW I THINK
THAT THIS IS NOT REALLY GOING
TO BE A HOLD ON THEM ONLY
BECAUSE WE THINK THAT IT IS
YOU KNOW, YOU HAVE THESE
CHINESE GENERALS SAYING WE
SHOULD DROP U.S. DEBT IN ORDER
TO HURT US IF YOU THINK THE
WAY THE GLOBALLY MARKETS WORK
THAT DOESN'T WORK, BECAUSE IF
CHINESE SELL U.S. DEBT THEY
GET BACK DOLLARS, GET BACK
DOLLARS PUT IN OTHER
OCCURRENCES CURRENCIES UP IN
VALUE LONDON BRUSSELS TOKYO
OUT OF GLOBAL MARKETS
REBALANCE CURRENCIES ONLY WAY
TO DO THAT PICK UP DOLLARS.
>> WHAT YOU SAID IS SUNG YOU
DON'T THINK QUALCOMM WILL BE
ABLE TO KWEFL COMPETE WITH
CHINA IF BROO
CHINA IF BROAD
CHINA IF BROADCO
CHINA IF BROADCOM
CHINA IF BROADCOM A
CHINA IF BROADCOM ACQ
CHINA IF BROADCOM ACQUI
CHINA IF BROADCOM ACQUIRE
CHINA IF BROADCOM ACQUIRES
BREM INTEL CONSIDERING
ACQUIRING BROADCOM FROM INTEL
ACQUIRES BROADCOM WOULD BE
MORE A BETTER COMPETITION YOU
BELIEVE, THAN QUALCOMM
BROADCOM.
>> JUST A QUESTION WHAT INTEL
PLANS TO DO WITH QUALCOMM IF
WANTING TO BREAK IT HAD UP.
>> INTEL WANTS TO BUY
BROADCOM.
>> I KNOW BROADCOM BUYS -- IT
IS ONE FISH SMALLER THAN THE
OTHER.
>> DEPENDS ON WHAT INTEL
INTENDS TO DO MAY BE NOT -- IF
INTEL ONLY COMPANY ABROAD
PROOD -- BROADCOM OUT OF
PETITION WE HAVE TO MAKE SURE
WE HAVE A COMPANY THAT CAN
WIN, WIN WIRELESS
COMMUNICATIONS A DECADE
CONNECT EVERYTHING IN HOME
DON'T WANT AS TOTER TALKING TO
YOU IN CHINESE.
>> WHEN I LOOK AT THIS TARIFF
STORY, ALL OF THE PUSHBACK
THAT THIS ADMINISTRATION HAS
DONE, RECOGNIZE WHAT HAS GONE
ON WITH CHINA THE WAY THEY ARE
ACQUIRING TECHNOLOGY, AND, YOU
KNOW, IMPORTANT THINGS THAT
IMPORTANT INDUSTRIES A.I.
ROBOTICS YOU RECOGNIZE THIS
TARIFF STORY IS MUCH MORE THAN
JUST ALUMINUM AND STEEL.
>> ABSOLUTELY.
>> NAFTA, CHINA.
>> 80 IS ABSOLUTELY MORE
IMPORTANT, BECAUSE THE WAY
CHINESE ECONOMY IS GOING, YOU
TALK ABOUT A.I., YOU KNOW,
CHINESE ARE NOW THE LEADERS IN
QUANTUM COMMUNICATIONS QUANTUM
COMPUTING, THEY PUT A LOT OF
STATE MONEY IN A.I. YOU PUT
A.I., AND QUANTITY YOU'LL
TOGETHER WHO KNOWS WHAT IS
GOING TO HAPPEN WE DON'T HAVE
THAT PROJECT OF LET'S GO THE
MOON JOHN KENNEDY, WE MAY NEED
ONE OF THOSE PROJECTS FOR A.I.
AND QUANTUM, BECAUSE THEY
CONTROL THOSE, YOU CONTROL A