China ambiguity impacting US markets: Pillsbury

is the u.s on a clear path to economically separate from china and is that the right road to take when it comes to american business to former president trump's top advisor on all things china michael pillsbury director of the center for chinese strategy at the hudson institute michael great to see you again but you know let's get right to this this incursion by chinese fighter jets uh near taiwan came precisely one day after taiwan applied to be part of the tpp2 the the comprehensive and progressive tpp trade block which includes two of the four countries president biden with is is meeting with right now australian japan what do we glean from all of these news headlines well chinese intentions are a matter of great debate in washington uh as you know and in new york as well on the one hand the chinese engage in aggressive as you say fighter uh violations of the id zone around taiwan there this idea of 300 new icbms that would focus on us each one of which could have several h-bombs on it there's just a whole series of provocative military steps uh and diplomatic criticism of our country that china is taking but ray dalio jamie dimon you know you you pick your leader in in new york they see a very different china that they want to benefit from the jp diamond i think deserves a lot of credit for his courage he said we americans have to get used to being number two china is going to surpass us we're going to be number two we have to get used to it because we'll be wealthier on a per capita basis now both biden and trump have said china's not going to surpass america quote on my watch unquote but everybody's thinking about beyond that five to ten years in advance when china either will be a major adversary that's stronger than we are or not i think that's where the daily confusion that affects the market so much comes from liz this basic ambiguity about chinese intentions that allow this debate to go on in america isn't it a better idea that we somehow figure out how to engage in business dealings with china but somehow keep the upper hand on that business dealing i mean surely we do a lot of things better than they do when it comes to creativity i remember speaking to the ceo of electronic arts years ago and he said you know i go to china for manufacturing but i come to the us and france for the creative ideas that come out of the gaming minds so there's got to be that right can we not keep the upper hand in that respect absolutely in fact there's a fascinating series of books that came out of the hoover institution about 40 years ago the talk about a business and hitler and the nazis ford motor company many other us corporations got deeply invested with hitler they would meet with hitler in person hitler supposedly had a picture of mr ford up in his office so yes we can cozy up to a regime that ultimately turns out to cause war then everybody loses who invested so heavily but that's what the debate over the intentions of china is all about we had that debate in the 30s most people especially in london and washington said hitler will be our friend he needs to repair the damage of the first versailles settlements you know we need to all get along then all of a sudden country after country gets invaded and slowly those people lost all of their investment is china like hitler and nazi germany looks like very few people think that today but if the chinese behavior continues it's going to be a very scary pride list for those who got so deeply invested in china now you know there is the autocratic part of what xi jinping has done but we had there's so much news the breaking news and that is that evergren's electric vehicle unit says you know what we can't continue unless we get an immediate infusion of cash then you've got this breaking news on the huawei situation the chief financial officer meng wan zhu who has been stuck in canada for quite some time on all kinds of accusations by the united states a deal has been made between the justice department allowing her to return back and the canadian and chinese governments tell us what you make of that and does that ease the pressure or tamp it on well i can't i cannot confirm the deal has been made i know that negotiations have been underway uh it definitely is a gesture toward china just in the last couple of weeks the wide administration has made a number of gestures toward china they're hoping to show kind of a softer side and work more toward cooperation especially on climate change and the biden people i think i've talked to here in town today they're very happy about xi jinping's speech at the u.n this week that china will stop building coal-fired plants all around the world if that's true it's a big breakthrough for the people in the biden white house who care about climate change more than almost anything else uh there's a number of these gestures that i believe will still be coming toward china you'll notice in the quad talks today uh the white house press advice is not to mention china the quad is just kind of like four democracies who want to get together on common grounds but no anti-china rhetoric i think that's because they want to keep modi in the quad he'll quit if it's turned into an anti-china alliance michael we have so many questions more we hope you'll come back thank you very much thanks liz michael pillsbury illustrating the issues with china

Channel: Fox Business

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Keywords: China, China US trade, China invade Taiwan, China manufacturing, China surpass US, Chinese stocks, Jamie Dimon, Joe Biden China, Liz Claman, Michael Pillsbury, Taiwan China tension, The Claman Countdown, US economically separate from China, US economy, Xi Jinping, business dealings with China, investing in China debate

Id: fwTdChV0_9I

Length: 5min 31sec (331 seconds)

Published: Fri Sep 24 2021