LOU: COME DMIS
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 --