1 00:00:21,359 --> 00:00:25,600 Speaker 1: Well here we are welcome to the Big Podcast. It 2 00:00:25,719 --> 00:00:29,640 is Thursday today, at the fourteenth day of May. You're 3 00:00:29,679 --> 00:00:33,240 of our Lord twenty twenty six. My name is Tom Sullivan. 4 00:00:33,640 --> 00:00:38,479 And it's all about China. I mean, that's I mean. 5 00:00:39,039 --> 00:00:41,640 So they had their big they had their day one 6 00:00:42,039 --> 00:00:45,679 of their big meeting in Beijing, and a lot of 7 00:00:45,719 --> 00:00:49,719 it was ceremony, and they had a nice big dinner, 8 00:00:49,759 --> 00:00:52,039 and they had a big welcome mean and they did 9 00:00:52,079 --> 00:00:58,079 all that, and yet you would think that there would 10 00:00:58,119 --> 00:01:00,359 be nothing but kind words, and there was a lot 11 00:01:00,439 --> 00:01:04,280 of that to a point. But the big surprise out 12 00:01:04,359 --> 00:01:10,400 of day one is that we're thinking, and our president 13 00:01:10,560 --> 00:01:14,519 is thinking about We would like to pretend like we're 14 00:01:14,560 --> 00:01:21,079 not asking it's China for any help with Iran, but 15 00:01:21,239 --> 00:01:24,959 Iran is the focus of what we've got going, at 16 00:01:25,040 --> 00:01:28,799 least from our president's desk, he's looking at that. But 17 00:01:28,959 --> 00:01:36,040 from President she surprise, he's thinking Taiwan. He's like, yeah, well, 18 00:01:36,159 --> 00:01:38,920 I'm not even gonna mention Iran. They're not even talking 19 00:01:38,920 --> 00:01:43,879 about Iran. President she is talking about Taiwan, and that 20 00:01:44,079 --> 00:01:48,400 is his obviously big focus. Now, the reason why he 21 00:01:48,439 --> 00:01:52,719 could help us with Iran is he could make a 22 00:01:52,719 --> 00:01:56,560 phone call probably and get Iran to shape up regarding 23 00:01:56,560 --> 00:01:59,439 the straight of four moves, because China gets eighty to 24 00:01:59,560 --> 00:02:04,959 ninety p sand of their oil and gas from Iran, 25 00:02:06,200 --> 00:02:12,039 but they also have huge stockpiles. They have emergency reserves 26 00:02:12,599 --> 00:02:17,400 that are in large quantities, so they're not worried about 27 00:02:17,520 --> 00:02:22,039 running out of gas or oil anytime soon. So this 28 00:02:22,159 --> 00:02:26,319 whole thing has turned out to be President Trump got 29 00:02:26,400 --> 00:02:31,719 up and said, how we want to work together. Wonderful words. 30 00:02:31,759 --> 00:02:35,840 Then President She got up and let me start with 31 00:02:36,000 --> 00:02:40,120 his speech. It's a very short one. It's his translator obviously, 32 00:02:40,639 --> 00:02:45,879 who basically laid the line down on. It's all about 33 00:02:45,919 --> 00:02:47,800 Taiwan from the way they see it. 34 00:02:48,520 --> 00:02:52,319 Speaker 2: President Trump and I, fully aware of the expectations of 35 00:02:52,360 --> 00:02:56,919 our two nations and the international community, have had multiple 36 00:02:56,960 --> 00:03:02,800 meetings and a phone calls and kept US relations generally stable. 37 00:03:02,879 --> 00:03:06,439 We both believe that the China US relationship is the 38 00:03:06,439 --> 00:03:11,159 most important bilateral relationship in the world. We must make 39 00:03:11,240 --> 00:03:15,439 its work and never mess it up. Both China and 40 00:03:15,479 --> 00:03:19,800 the United States stand to gain from cooperation and lose 41 00:03:20,159 --> 00:03:21,039 from confrontation. 42 00:03:23,159 --> 00:03:26,479 Speaker 1: Yeah, so that was, you know, pretty diplomatic, But don't 43 00:03:26,520 --> 00:03:28,599 mess it up. I didn't know there was a Chinese 44 00:03:28,680 --> 00:03:32,639 word for messing her tough. But let's get a couple 45 00:03:32,680 --> 00:03:36,560 of people in here who are looking at well, let's play. Also, 46 00:03:36,599 --> 00:03:40,919 Donald Trump was asked again about what his goals are, 47 00:03:41,840 --> 00:03:43,360 and this is what he had to say. 48 00:03:43,960 --> 00:03:47,719 Speaker 3: So we discussed it. I mean, when you say support, 49 00:03:47,960 --> 00:03:51,360 they're not fighting a war with us or anything. No, 50 00:03:52,039 --> 00:03:54,319 he said, he's not going to give military equipment. That's 51 00:03:54,319 --> 00:03:56,599 a big savement. He said that today. That's a big savement. 52 00:03:57,599 --> 00:04:00,599 Said that strongly, but at the same time said, you know, 53 00:04:00,639 --> 00:04:02,319 they buy a lot of their oil there and they'd 54 00:04:02,360 --> 00:04:03,159 like to keep doing that. 55 00:04:03,680 --> 00:04:06,280 Speaker 1: In other words, President Trump would like to get some 56 00:04:06,319 --> 00:04:09,080 sort of dialogue with the president she about Iran, but 57 00:04:09,520 --> 00:04:13,599 doesn't look like President She is going there. Rett Bear, 58 00:04:13,840 --> 00:04:16,480 he's over there for Fox to keep track of what's 59 00:04:16,519 --> 00:04:19,639 going on. And this is his reaction to how they won. 60 00:04:19,759 --> 00:04:22,759 Speaker 4: Went thinks that is the message from the White House 61 00:04:22,920 --> 00:04:26,199 is that President she put out and agreed that Iron 62 00:04:26,279 --> 00:04:28,279 can't have a nuclear weapon, that the straighter from Moves 63 00:04:28,279 --> 00:04:31,639 has to be open. That's the message that came out 64 00:04:31,720 --> 00:04:34,879 from the White House. We don't have specifics yet of 65 00:04:35,079 --> 00:04:38,399 a readoubt of the specifics on the by LAT hope 66 00:04:38,439 --> 00:04:42,959 to get more on that. The conversation from the Chinese perspective, 67 00:04:43,079 --> 00:04:45,920 what they put out to their state run agency was 68 00:04:45,959 --> 00:04:48,639 what Marc has referenced, and that is that Taiwan is 69 00:04:48,680 --> 00:04:52,600 the biggest issue for them and that if handled properly, 70 00:04:52,800 --> 00:04:55,199 it would be great between the US and China. If 71 00:04:55,279 --> 00:04:59,360 handled improperly, in their words, it could lead to conflict 72 00:05:00,160 --> 00:05:03,160 and clashes. That was seen as a kind of a 73 00:05:03,279 --> 00:05:06,680 veiled threat here reading between the lines from President she 74 00:05:07,000 --> 00:05:10,439 But everything on the pomp and circumstance suggests that this 75 00:05:10,560 --> 00:05:14,040 relationship is moving forward and they're having good meetings. We 76 00:05:14,120 --> 00:05:17,800 hope to get some more granular details on Iran pretty soon. 77 00:05:17,920 --> 00:05:21,920 Speaker 1: Okay, So they're dancing around what to be focused on. 78 00:05:22,000 --> 00:05:25,639 And like I said, China is looking at Taiwan, We're 79 00:05:25,639 --> 00:05:30,160 looking at Iran. But the other thing you've got, it's 80 00:05:30,160 --> 00:05:35,079 crystal clear that's coming out of China is it's not America. 81 00:05:35,480 --> 00:05:38,120 I don't know why the ugly American goes and thinks 82 00:05:38,160 --> 00:05:41,839 that everybody should be just like us. China is radically 83 00:05:42,120 --> 00:05:44,759 different system than we have here. 84 00:05:44,959 --> 00:05:48,879 Speaker 4: Yeah, and you can see that here, you know, you 85 00:05:48,920 --> 00:05:54,079 can see the Communist CCP has a lot of control 86 00:05:54,279 --> 00:05:57,160 over folks. I did the thing about cameras on the streets. 87 00:05:57,160 --> 00:05:59,480 There are thousands and thousands of cameras. If you watch 88 00:05:59,720 --> 00:06:03,680 TV from any broadcast that's not here, when they talk 89 00:06:03,720 --> 00:06:06,600 about something negative about China, it goes to bars and 90 00:06:06,680 --> 00:06:09,040 says please stand by. You know, if you talk about 91 00:06:09,120 --> 00:06:12,519 human rights or anything like that, it shuts off for 92 00:06:12,560 --> 00:06:15,399 like thirty seconds. And I saw it three times before 93 00:06:15,399 --> 00:06:19,040 I just came here for this live shot. So yes, 94 00:06:19,360 --> 00:06:22,319 what's public is one thing, what's private is another. The 95 00:06:22,399 --> 00:06:25,319 key thing about this summit is the private stuff. And 96 00:06:25,360 --> 00:06:30,120 if President Trump can get some real deliverables leaving here 97 00:06:30,160 --> 00:06:30,600 in vasion. 98 00:06:31,399 --> 00:06:35,120 Speaker 1: So if there are deliverables, and they should have been 99 00:06:35,160 --> 00:06:39,120 ironed out before this meeting even started today, that we 100 00:06:39,199 --> 00:06:43,160 will find out tomorrow because again they're twelve hours ahead, 101 00:06:43,199 --> 00:06:46,040 so that means they'll be working while we're sleeping here. 102 00:06:46,319 --> 00:06:48,959 They'll be working overnight and tomorrow will find out how 103 00:06:49,000 --> 00:06:53,360 things went in day two hr. Let's do a Brit 104 00:06:53,399 --> 00:06:57,879 Hume also from you know, the Dean of Washington d 105 00:06:58,040 --> 00:07:02,240 C Reporters was asked about this whole conference. 106 00:07:03,000 --> 00:07:08,000 Speaker 5: Well, China's attitude towards Taiwan really has never changed, nor 107 00:07:08,079 --> 00:07:11,720 has that of the United States. You know, we've been 108 00:07:12,040 --> 00:07:16,480 had strategic ambiguity, as you correctly describe it, and as 109 00:07:16,519 --> 00:07:20,519 Marco Rubio cited, but we really haven't been ambivalent about 110 00:07:20,519 --> 00:07:23,319 it in the sense that we have supported the independence 111 00:07:23,319 --> 00:07:29,240 of Taiwan at least practically, if not formally, and we have, 112 00:07:29,519 --> 00:07:33,360 you know, considerable military assets in the region, at least 113 00:07:33,399 --> 00:07:37,040 partly for the purpose of deterring China from any military 114 00:07:37,040 --> 00:07:41,480 aggression toward Taiwan. So we don't recognize Taiwan as an 115 00:07:41,519 --> 00:07:46,639 independent country, except in some ways we do, and that 116 00:07:46,800 --> 00:07:50,120 is what strategic ambiguity is all about. Our policy hasn't changed, 117 00:07:50,240 --> 00:07:55,199 China's hasn't either. The strength of Xjin Chang's words may 118 00:07:55,279 --> 00:07:57,480 matter the thing to watch for. And now, I think 119 00:07:57,519 --> 00:08:01,920 if there's any any change in the US position, either 120 00:08:02,000 --> 00:08:04,959 articulated by the President or in any other way so far, 121 00:08:05,160 --> 00:08:07,920 I don't think there has been. So things remain basically 122 00:08:08,000 --> 00:08:10,000 where they have for quite a long time now. 123 00:08:10,120 --> 00:08:15,240 Speaker 1: So this strategic ambiguity is our policy, a one China policy. 124 00:08:15,959 --> 00:08:18,839 But Joe Biden, I think on at least two maybe 125 00:08:18,879 --> 00:08:22,680 three occasions, said of course, we'll go defend Taiwan, and 126 00:08:22,759 --> 00:08:25,360 everybody had a kitten and his people had to go 127 00:08:25,439 --> 00:08:28,240 clean up Aisle nine over after him saying that. But 128 00:08:28,279 --> 00:08:30,720 I think a lot of people in the US, the 129 00:08:30,759 --> 00:08:34,000 Biden administration obviously, but I think President Trump would too, 130 00:08:34,080 --> 00:08:38,559 is that if Taiwan is attacked, would we go defend them? Well, 131 00:08:39,240 --> 00:08:42,639 reaction on how this is all going on, at least 132 00:08:42,679 --> 00:08:46,679 from the Democrats. Chris Coons, who is a Democrat from Delaware, 133 00:08:47,200 --> 00:08:50,000 weighed in on his observations. 134 00:08:50,000 --> 00:08:51,840 Speaker 6: We're not seeing much in the first three days, well, 135 00:08:51,960 --> 00:08:55,200 exactly other than Trump calling she a great, great best 136 00:08:55,240 --> 00:08:58,080 friend while he's helping Aron rearm. 137 00:08:57,679 --> 00:09:01,639 Speaker 7: Yes, and President she mentioned Taiwan in his readout. 138 00:09:02,240 --> 00:09:05,919 Speaker 6: He didn't mention Taiwan. Yes, he rated President Trump about 139 00:09:05,960 --> 00:09:08,600 how it would cause great problems if we didn't back 140 00:09:08,639 --> 00:09:12,120 off our support for Taiwan, and President Trump did not respond. 141 00:09:12,879 --> 00:09:15,360 Speaker 1: So brit Hume response. 142 00:09:15,120 --> 00:09:18,320 Speaker 5: How we're dealing with Democrats these days, virtually every single 143 00:09:18,360 --> 00:09:22,240 one of them, who look for every conceivable opportunity to 144 00:09:22,440 --> 00:09:26,000 criticize President Trump and to contril and to treat his 145 00:09:26,200 --> 00:09:29,919 endeavors whatever they may be, as likely failures or signs 146 00:09:29,919 --> 00:09:34,639 of weakness or something. So I would brush that off 147 00:09:34,679 --> 00:09:36,639 as a part as a statement, while still keeping a 148 00:09:36,679 --> 00:09:40,480 close eye on the situation Taiwan. It's worth remembering, you know, yes, 149 00:09:40,799 --> 00:09:42,840 we'd like Taiwan to buy a thing from us, but 150 00:09:42,919 --> 00:09:47,919 we buy some very important technological products from them, chips included, absolutely, 151 00:09:48,000 --> 00:09:51,879 and in the race to win to win primisey in 152 00:09:52,399 --> 00:09:58,039 artificial intelligence, we need Taiwan as a friendly ally to 153 00:09:58,200 --> 00:10:00,399 keep on supplying us with the chips we need until 154 00:10:00,399 --> 00:10:02,679 at some point they can be made in the United States, 155 00:10:02,879 --> 00:10:05,559 and we're some distance from that now. 156 00:10:04,919 --> 00:10:11,360 Speaker 1: Many years at a minimum. So Wendy Cutler, she's the 157 00:10:11,399 --> 00:10:16,559 head of the Asia Society Policy Institute. She's been dealing 158 00:10:16,600 --> 00:10:19,879 with China for decades, so she's devoted her life to 159 00:10:20,279 --> 00:10:22,879 policy regarding China. And this is what she said. 160 00:10:23,360 --> 00:10:27,159 Speaker 8: Well, clearly, engagement between the leaders is critical to get 161 00:10:27,159 --> 00:10:30,240 this relationship back on track and in some kind of 162 00:10:30,759 --> 00:10:36,159 stabilized condition. And I was encouraged that the two sides 163 00:10:36,200 --> 00:10:39,279 have kind of confirmed or at least talking about three 164 00:10:39,360 --> 00:10:42,480 more visits this year or three more meetings between the leaders, 165 00:10:42,519 --> 00:10:45,840 because I think that will lead to more stability. But 166 00:10:46,200 --> 00:10:50,120 when it comes to stability in the relationship. While both 167 00:10:50,159 --> 00:10:53,679 sides welcome that, I think they have different visions on 168 00:10:53,720 --> 00:10:56,399 what this might mean. And what struck me coming out 169 00:10:56,399 --> 00:11:01,480 of today's meeting were the comments by the side making 170 00:11:01,519 --> 00:11:06,480 it clear that constructive engagement, particularly on the economic front, 171 00:11:06,960 --> 00:11:11,440 is going to be contingent on developments in Taiwan. This 172 00:11:11,639 --> 00:11:14,399 was very clearly stated by China. 173 00:11:15,440 --> 00:11:16,360 Speaker 1: There's a breed. 174 00:11:16,200 --> 00:11:19,720 Speaker 8: Upon language that leaders that US leaders have been using 175 00:11:20,080 --> 00:11:22,960 for many, many years on Taiwan, and if they move 176 00:11:23,159 --> 00:11:26,480 one word away from that statement, or they say something 177 00:11:26,679 --> 00:11:31,759 that off the cuff, that can have you know, important 178 00:11:31,759 --> 00:11:35,440 implications and be read by China to signal other things. 179 00:11:36,000 --> 00:11:39,080 So you know, it's interesting. And Trump's read out today 180 00:11:39,080 --> 00:11:42,519 in his tweet, you didn't even mention Taiwan. He focused 181 00:11:42,519 --> 00:11:46,360 on the economic relationship, and he also focused on Iran, 182 00:11:47,120 --> 00:11:51,960 and that she read out had nothing mentioned totally silent 183 00:11:52,200 --> 00:11:58,440 on Iran, and that's not surprising. But hopefully we'll learn 184 00:11:58,519 --> 00:12:01,879 more tomorrow when these are over, how all of these 185 00:12:01,960 --> 00:12:06,399 issues were traded and what the outcomes are. And here 186 00:12:06,440 --> 00:12:09,480 I would also say a lot of nice words so far, 187 00:12:10,000 --> 00:12:13,600 but not really a lot of concrete outcomes. As a 188 00:12:13,639 --> 00:12:16,960 former trade negotiator, I would just mention I welcome the 189 00:12:17,000 --> 00:12:20,960 fact that finally China is going to welcome back US 190 00:12:21,000 --> 00:12:24,080 beef to China. This issue has been on the docket 191 00:12:24,159 --> 00:12:27,519 for way too long, and I think that is one 192 00:12:27,679 --> 00:12:30,360 tangible outcome we saw today. 193 00:12:31,279 --> 00:12:34,200 Speaker 1: Well, not to criticize, but it does seem if you're 194 00:12:34,200 --> 00:12:39,000 going into a business meeting and one side their goal 195 00:12:39,320 --> 00:12:44,080 is A and the other side goal is B, it 196 00:12:44,120 --> 00:12:47,480 doesn't make for an opportunity to find a lot of 197 00:12:47,600 --> 00:12:51,840 common ground because you're starting off on completely different subjects. 198 00:12:52,399 --> 00:12:56,799 So we'll see how tonight goes. We'll find out tomorrow. 199 00:12:58,000 --> 00:13:01,759 Hr McMaster, former National security advisor for President Trump one 200 00:13:01,759 --> 00:13:03,919 point zero. Here's what he said, gil. 201 00:13:04,000 --> 00:13:06,320 Speaker 9: I think the kind of help that China wants to 202 00:13:06,320 --> 00:13:09,440 provide is any help that will keep the Irani regime 203 00:13:09,519 --> 00:13:13,519 on life support, because I think China knows Hi Jianping 204 00:13:13,639 --> 00:13:16,399 knows that his influence in the Middle East goes to 205 00:13:16,639 --> 00:13:19,159 zero if there's a change in the nature of that 206 00:13:19,200 --> 00:13:23,240 regime such that it ceases its permanent hostility to the 207 00:13:23,320 --> 00:13:28,159 United States. You know, the Great Satan Israel and its 208 00:13:28,200 --> 00:13:31,279 Arab neighbors. Because what China got is influenced in the 209 00:13:31,320 --> 00:13:35,519 Elisee from was presenting itself as the big restrainer of Iran. 210 00:13:35,879 --> 00:13:38,639 That's how it got influenced with the Gulf States. Well, hey, 211 00:13:38,879 --> 00:13:41,840 Iran now has attacked fourteen different nations in the region, 212 00:13:42,200 --> 00:13:45,919 and China knows that Irani regime goes away, it's influenced 213 00:13:45,919 --> 00:13:47,840 in the Middle East, goes to zero. 214 00:13:48,559 --> 00:13:52,559 Speaker 1: Okay, But so far in day one, everybody has kind 215 00:13:52,600 --> 00:13:55,559 of had their hair blown back by President she coming 216 00:13:55,600 --> 00:14:01,120 out very strongly warning about Taiwan. Pretty aggressive of back 217 00:14:01,120 --> 00:14:04,879 to hr you know, they are a bit more aggressive, 218 00:14:04,919 --> 00:14:07,840 But what's really been aggressive are their actions against Taiwan 219 00:14:07,919 --> 00:14:10,559 as well. They've really ramped up, you know, these sort 220 00:14:10,600 --> 00:14:16,440 of incursions around Taiwan almost to desensitize Taiwan to what 221 00:14:16,639 --> 00:14:19,240 might come later, you know, which is even more aggressive 222 00:14:19,600 --> 00:14:22,000 military action in the form of a quarantine or a 223 00:14:22,000 --> 00:14:25,799 blockade or or something like that. And when they say 224 00:14:25,840 --> 00:14:28,000 they want they want the United States, you know, to 225 00:14:28,039 --> 00:14:30,480 have kind of a good atmosphere around Taiwan, what they 226 00:14:30,519 --> 00:14:32,240 really want us to do is kind of throw the Taiwan. 227 00:14:32,279 --> 00:14:35,799 He's under the bus, mainly with the suspension of arms sales, 228 00:14:35,799 --> 00:14:37,960 which I don't think President Trump's going to do, so 229 00:14:38,440 --> 00:14:41,360 I think, you know, the way forward here is just quiet, 230 00:14:41,559 --> 00:14:44,639 you know, sort of support for you know, for a 231 00:14:44,679 --> 00:14:48,559 peaceful resolution, which means that China doesn't get to coerce 232 00:14:48,919 --> 00:14:52,879 Taiwan into annexation by invitation, which is really what they 233 00:14:52,919 --> 00:14:54,840 want to do. They want to pull what they did 234 00:14:54,919 --> 00:14:58,039 in Hong Kong right through through subversion, and of course 235 00:14:58,080 --> 00:15:01,559 the Taiwan These people know, because they've learned vicariously through 236 00:15:01,600 --> 00:15:04,080 the fate of Hong Kong, that what that really amounts 237 00:15:04,120 --> 00:15:08,279 to is the extinguishment of human freedom and an extension 238 00:15:08,759 --> 00:15:13,000 of the Orwellian technologically enabled police state that you've been 239 00:15:13,039 --> 00:15:18,720 reporting on on mainland China into Taiwan. A police state. 240 00:15:18,840 --> 00:15:21,120 It truly is. Everything looks so nice, isn't it. They 241 00:15:21,159 --> 00:15:24,600 have these nice ceremonies and the president's smiling and President 242 00:15:24,679 --> 00:15:27,639 she is smiling, and they have big dinners. But I've 243 00:15:27,679 --> 00:15:31,360 only been to China once and it was a big 244 00:15:31,480 --> 00:15:36,480 eye opener about how the police state there is so 245 00:15:37,080 --> 00:15:41,240 strong you don't want to step outline if you're in China, 246 00:15:41,519 --> 00:15:44,080 they're very big, uncontrolled, and that's what they did with 247 00:15:44,159 --> 00:15:49,600 Hong Kong, perfectly western country that has been gobbled up 248 00:15:49,639 --> 00:15:54,480 by the police state of Beijing. Finally, let's get yunis 249 00:15:54,559 --> 00:15:57,600 Yun in here she gives us kind of an overview 250 00:15:57,639 --> 00:16:01,159 of what is happening on this meeting in Beijing. 251 00:16:02,320 --> 00:16:05,440 Speaker 7: Well, Presidents Trump and She are just wrapping up a 252 00:16:05,480 --> 00:16:08,000 state dinner, and at the opening of that dinner, President 253 00:16:08,000 --> 00:16:11,200 Trump had delivered some remarks where he invited President She 254 00:16:11,440 --> 00:16:14,320 to the White House on September twenty four. That's not 255 00:16:14,399 --> 00:16:16,840 clear at this point whether or not the Chinese president 256 00:16:17,039 --> 00:16:20,080 will accept, But earlier in the day, the two had 257 00:16:20,559 --> 00:16:24,000 an expanded bilateral meeting at the Great Hall of the People, 258 00:16:24,039 --> 00:16:27,159 and the preliminaries were very positive. People were talking about 259 00:16:27,480 --> 00:16:31,120 building up the stability in the relationship as well as 260 00:16:31,200 --> 00:16:34,559 avoiding conflict. Of The Chinese readout described this as a 261 00:16:34,600 --> 00:16:38,919 new vision of stability, of strategic stability. But the big 262 00:16:38,919 --> 00:16:42,519 news out of that meeting was the surprisingly strong and 263 00:16:42,679 --> 00:16:46,840 very stern statement by President She about the issue that's 264 00:16:47,000 --> 00:16:50,039 very important to him, and that is Taiwan. He said, 265 00:16:50,120 --> 00:16:54,480 if handled badly, the two countries risk collision or conflict, 266 00:16:54,759 --> 00:16:59,240 pushing the whole relationship into a very dangerous situation. Taiwan 267 00:16:59,279 --> 00:17:02,440 independence is incompatible with the peace in the Taiwan Strait 268 00:17:02,919 --> 00:17:05,839 like fire is to water, and I think that that 269 00:17:05,960 --> 00:17:10,079 just goes to underscore the fragility of this relationship. What 270 00:17:10,160 --> 00:17:13,559 was also interesting is what we haven't yet learned, and 271 00:17:13,599 --> 00:17:17,880 that is the discussions on Iran. Before President Trump's trip, 272 00:17:17,880 --> 00:17:22,000 a senior administration official had indicated that President Trump would 273 00:17:22,160 --> 00:17:25,960 very likely raise the issue of China's support for Iran 274 00:17:26,359 --> 00:17:29,000 at this meeting. What we've had so far is from 275 00:17:29,039 --> 00:17:30,920 a White House official which says that the two sides 276 00:17:30,960 --> 00:17:33,759 agreed that the Strait of Horrormuz must remain open to 277 00:17:33,799 --> 00:17:36,640 support the free flow of energy, and also that President 278 00:17:36,759 --> 00:17:40,119 She made clear China's opposition to the militarization of the 279 00:17:40,119 --> 00:17:43,960 strait and any effort to charge a toll for its use. 280 00:17:44,319 --> 00:17:47,640 Those comments, though, pretty much what we already know about 281 00:17:47,680 --> 00:17:50,559 the Chinese, so we don't know whether or not the 282 00:17:50,640 --> 00:17:53,240 Chinese are going to end their support for Iran. 283 00:17:53,319 --> 00:17:53,440 Speaker 8: Now. 284 00:17:53,480 --> 00:17:56,319 Speaker 7: Another thing that we're waiting for is any information on 285 00:17:56,440 --> 00:17:59,599 economic and trade deals. Again, that White House officials said 286 00:17:59,599 --> 00:18:03,279 that President She had expressed interest in purchasing more American 287 00:18:03,359 --> 00:18:07,240 oil to reduce China's dependence on the street on the 288 00:18:07,240 --> 00:18:11,240 street in the future. The indication from the Chinese side 289 00:18:11,440 --> 00:18:14,480 is that the readout cited President Xi jinpinga saying that 290 00:18:14,559 --> 00:18:19,160 the economic and trade teams in South Korea, of course 291 00:18:19,319 --> 00:18:23,799 Scott Vessant as well as the Chinese counterpart struck overall 292 00:18:23,960 --> 00:18:27,400 balanced and positive income. So the two sides are going 293 00:18:27,440 --> 00:18:30,880 to meet again for another biliteral meeting on Friday. 294 00:18:31,160 --> 00:18:35,119 Speaker 1: So again we're getting kind of two different versions of 295 00:18:35,240 --> 00:18:39,400 the same event because the White House is saying that 296 00:18:39,480 --> 00:18:44,519 President she clearly stated that he is for the opening 297 00:18:44,519 --> 00:18:47,039 of the Strait of Hormuz and that Iran cannot have 298 00:18:47,079 --> 00:18:50,480 a nuclear weapon. That's from the White House, but there's 299 00:18:50,480 --> 00:18:53,480 no mention, almost no mention a little bit, but not 300 00:18:53,839 --> 00:19:00,160 much of anything from China talking about opening of the 301 00:19:00,200 --> 00:19:05,319 Strait of Hormuz and Iran's nuclear weapons. So it's it 302 00:19:05,359 --> 00:19:09,359 depends upon who's writing the press release or the propaganda, 303 00:19:09,359 --> 00:19:11,440 whichever way you want to look at it. And speaking 304 00:19:11,480 --> 00:19:15,319 of propaganda, there's another story that kind of came around 305 00:19:15,559 --> 00:19:18,039 within the last week. It has to do with a 306 00:19:18,079 --> 00:19:21,640 woman who is the mayor of the city of Arcadia 307 00:19:22,400 --> 00:19:26,640 in southern California, and they talked about how they never 308 00:19:26,759 --> 00:19:30,920 used the word spy, but they would. Apparently they thought 309 00:19:30,920 --> 00:19:34,680 that she was acting as an agent, not a spy, 310 00:19:34,799 --> 00:19:38,759 but an agent. Well, if you're not familiar with Arcadia, 311 00:19:39,880 --> 00:19:44,920 it is a modern version of Chinatown. It is an 312 00:19:45,000 --> 00:19:52,319 ethnic neighborhood. It is where Chinese immigrants go to live. 313 00:19:52,920 --> 00:19:58,559 It is heavy Chinese. Everything about it is Chinese. So 314 00:19:58,680 --> 00:20:01,359 to me, it looked like any ethnic neighborhood that you'll 315 00:20:01,359 --> 00:20:07,480 find in Queens that they are still not beholden to, 316 00:20:07,680 --> 00:20:13,440 but they love their motherland, and so the people in Arcadia. 317 00:20:14,119 --> 00:20:16,160 The fact that this lady was sending out all this 318 00:20:16,319 --> 00:20:19,160 information that sounded like it was coming from Beijing, she 319 00:20:19,279 --> 00:20:23,680 probably was, because I think she represents a lot of 320 00:20:23,680 --> 00:20:26,960 the people that live in Arcadia that are just die 321 00:20:27,039 --> 00:20:30,440 hard Chinese people, but they wanted to come here because 322 00:20:30,519 --> 00:20:34,839 of the police state in China. So I don't look 323 00:20:34,880 --> 00:20:38,799 at her as a spy. She's resigned, she stepped down. 324 00:20:39,319 --> 00:20:43,359 Did she act as a formal agent, maybe, But I 325 00:20:43,400 --> 00:20:45,119 think it has a lot more to do with the 326 00:20:45,160 --> 00:20:49,680 fact that they missed their they missed their homeland. So 327 00:20:49,759 --> 00:20:53,440 we've got when we talked about it wrong. We talked 328 00:20:53,440 --> 00:20:59,079 about oil and gas and the gas prices of the 329 00:20:59,119 --> 00:21:02,279 average across the entry for the cheap stuff four dollars 330 00:21:02,400 --> 00:21:06,279 fifty three cents. That is up two cents from yesterday, 331 00:21:06,839 --> 00:21:09,559 but it's two cents lower than a week ago. Week ago, 332 00:21:09,680 --> 00:21:11,960 we had a peak of four to fifty five. We're 333 00:21:12,000 --> 00:21:16,119 at four fifty three today, so it's kind of bouncing 334 00:21:16,200 --> 00:21:19,480 around in here around that level. Diesel also same kind 335 00:21:19,559 --> 00:21:24,000 of thing, diesel five dollars sixty seven. That's up two 336 00:21:24,039 --> 00:21:26,559 cents from yesterday, but it's about the same as it 337 00:21:26,680 --> 00:21:31,160 was one week ago. So oil and gas is kind 338 00:21:31,160 --> 00:21:33,680 of floating in the same area for now. But again, 339 00:21:34,119 --> 00:21:38,119 all the oil analysts are saying, if this straight stays 340 00:21:38,240 --> 00:21:41,559 closed much longer, these prices are going to continue to 341 00:21:41,640 --> 00:21:45,680 keep going higher, so stand by for all of that. 342 00:21:46,319 --> 00:21:49,440 Jobs came out first on Thursday morning, the first time 343 00:21:49,519 --> 00:21:55,319 jobless claims two hundred eleven thousand, which is up a 344 00:21:55,359 --> 00:21:58,000 little from last week, but it's about where it's been 345 00:21:58,240 --> 00:22:02,240 for really a year or so longer than a year. 346 00:22:02,839 --> 00:22:06,759 Continuing claims a million, seven eighty two. Both of those 347 00:22:06,920 --> 00:22:13,799 are within the range of normal retail sales. They're the 348 00:22:13,880 --> 00:22:18,559 little little tweak on the retail sales numbers. Retail sales 349 00:22:19,039 --> 00:22:21,759 were up a half a percent in the month of April, 350 00:22:22,319 --> 00:22:24,720 and that's pretty solid when you look at the headline. 351 00:22:25,200 --> 00:22:27,720 But when you dig into the numbers, you find out 352 00:22:27,759 --> 00:22:37,319 that retail sales of cars down, furniture down, clothing down. 353 00:22:38,240 --> 00:22:44,400 Where you find retail sales increasing was gasoline, and the 354 00:22:44,519 --> 00:22:48,079 number computes to a gain of two point eight percent. 355 00:22:48,200 --> 00:22:52,000 That's a big gain. Well, you know that gas prices 356 00:22:52,039 --> 00:22:55,480 have come way up, but what it doesn't say they're not. 357 00:22:55,559 --> 00:22:58,799 People aren't buying more gas, they're just paying more. So 358 00:22:58,880 --> 00:23:03,440 the retails that the cash register rings up is up 359 00:23:03,599 --> 00:23:07,759 because the prices are up, So retail sales kind of 360 00:23:07,759 --> 00:23:12,759 look stronger than it really is. Import prices, these are 361 00:23:12,759 --> 00:23:15,119 the things in April coming in from around the world, 362 00:23:15,839 --> 00:23:21,839 up four point two percent, so we're buying foreign goods. 363 00:23:22,519 --> 00:23:24,759 The prices are up four point two percent. That is 364 00:23:24,839 --> 00:23:28,920 double what was estimated, and it's also showing more signs 365 00:23:29,039 --> 00:23:34,519 of inflation. Export prices, what we are able to sell 366 00:23:34,960 --> 00:23:38,319 to foreigners, to other countries, they were up double what 367 00:23:38,480 --> 00:23:42,319 was expected. They were up eight point eight percent. A 368 00:23:42,359 --> 00:23:46,000 lot of that goes again to fuel that we are exporting. 369 00:23:46,640 --> 00:23:51,359 So it's no surprise, I guess in some of those numbers. 370 00:23:53,000 --> 00:23:58,039 You want to talk about Alex Murdau, the guy who 371 00:23:58,359 --> 00:24:03,400 murdered his wife and son. The attorney in South Carolina, 372 00:24:03,440 --> 00:24:06,559 this was a big shocker yesterday. I told you I'm 373 00:24:07,839 --> 00:24:10,000 I'm going to give you the information because I know 374 00:24:10,000 --> 00:24:11,920 a lot of you are really interested in this and 375 00:24:11,960 --> 00:24:18,519 I don't know why. But here's the prosecutor on this 376 00:24:18,640 --> 00:24:21,960 case saying, even though the Supreme Court in the state 377 00:24:22,000 --> 00:24:25,720 of South Carolina threw out his murder convictions, they're still 378 00:24:25,799 --> 00:24:27,680 going to go after him. Here's the prosecutor. 379 00:24:28,160 --> 00:24:30,720 Speaker 10: We obviously intend to retry this case because at the 380 00:24:30,799 --> 00:24:33,799 end of the day, people need to be reminded that 381 00:24:33,880 --> 00:24:36,559 two people were violently murdered back in June of twenty 382 00:24:36,640 --> 00:24:39,799 twenty one, and our office is going to seek another 383 00:24:39,839 --> 00:24:42,200 retrial because we believe that we have credible evidence and 384 00:24:42,240 --> 00:24:43,480 supports our conclusions. 385 00:24:43,599 --> 00:24:46,519 Speaker 1: Yeah, so the prosecutor is not backing off the defense. 386 00:24:46,519 --> 00:24:50,759 Attorney for mister Murdogg says, oh, yeah, we've got a 387 00:24:50,759 --> 00:24:51,680 good defense going. 388 00:24:51,920 --> 00:24:54,920 Speaker 11: I can tell you he is very relieved that he 389 00:24:54,920 --> 00:24:58,839 has gotten the label of convicted murderer of his wife 390 00:24:58,839 --> 00:25:01,400 and son all of him, and we plan to keep 391 00:25:01,440 --> 00:25:03,200 it off of him. Most people that I talk to 392 00:25:03,440 --> 00:25:05,759 don't believe he did it. His family doesn't believe he 393 00:25:05,799 --> 00:25:08,079 did it, and they don't believe he could have done it. 394 00:25:08,240 --> 00:25:12,039 The evidence, frankly doesn't support that he did it. Do 395 00:25:12,119 --> 00:25:15,039 we have an alternative suspect? No, we wish we did, 396 00:25:15,200 --> 00:25:18,240 but we have a multiple alternative theories. 397 00:25:18,680 --> 00:25:20,200 Speaker 1: Kind of had to smirk when I heard about that. 398 00:25:20,240 --> 00:25:24,319 We have multiple alternative theories. So did O. J. Simpson. 399 00:25:25,119 --> 00:25:27,480 He's been well until he passed away. He was out 400 00:25:27,519 --> 00:25:31,200 looking for the alternative murderer out on the golf courses. 401 00:25:31,359 --> 00:25:36,319 So with that, let's wrap up today and we'll again 402 00:25:36,440 --> 00:25:40,400 wait for tonight our time. Well, they'll have their second 403 00:25:40,440 --> 00:25:44,160 day meeting and that's where the rubber hits the road. 404 00:25:44,160 --> 00:25:46,920 I think more tonight, and we'll find out tomorrow morning 405 00:25:47,559 --> 00:25:50,359 and we'll talk about it tomorrow on this podcast. So 406 00:25:50,440 --> 00:25:55,799 thank you for doing all of China with me, mostly 407 00:25:55,839 --> 00:25:59,640 all China. Wall Street today did not seem two phased 408 00:25:59,680 --> 00:26:04,240 by everything going on over in Beijing. The market not 409 00:26:04,440 --> 00:26:08,000 only up three hundred, the Dow up three hundred and seventy, 410 00:26:08,599 --> 00:26:12,119 but once again we're back over fifty thousand, the Dow 411 00:26:12,200 --> 00:26:17,359 at fifty thousand and sixty three, the SMP up fifty seven, 412 00:26:17,720 --> 00:26:21,079 the NASDAC up two hundred and thirty two. The price 413 00:26:21,079 --> 00:26:24,559 of gold fell fifty four dollars, down to four thousand 414 00:26:24,599 --> 00:26:27,000 and six point fifty two. In the price of oil, 415 00:26:28,119 --> 00:26:30,920 it went up a little more than one dollar. West 416 00:26:30,920 --> 00:26:34,599 Texas Intermediate now one hundred and two dollars for a 417 00:26:34,720 --> 00:26:37,599 barrel of oil. So that's it for today. Thank you 418 00:26:37,640 --> 00:26:40,160 for coming by. We will be back again tomorrow and 419 00:26:40,240 --> 00:26:41,519 I hope to see you there.