Oct. 24, 2025 - Epoch Times
02:39
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| Time | Text |
|---|---|
| Well our economies are clearly intertwined, as is our economies throughout the world. | |
| When you think of the Cold War and you think of the relationship with the Soviet Union, we were never intertwined economically the way we are with China. | |
| So it does make it more complicated. | |
| But when they show their willingness to leverage these economic relationships in such a way that is not in America's interest, it really does show our need to develop independent supply chains. | |
| And I applaud President Trump is working very hard to separate and strengthen our resiliency of our supply chains. | |
| But you can see how they do that around the world. | |
| They have something called the Belt and Road Initiative in the developing world where they fund major infrastructure projects, use Chinese labor, build these needed infrastructure projects in the third world, and ultimately create a debt trap dependency with developing nations. | |
| And so that's a concern as well because then they leverage that for their own policy objectives. | |
| They would portray themselves in that vein that they believe in win-win, but ultimately they are looking at a much longer timeframe. | |
| And ultimately, it's win-lose because what they want to do is be the center most dominant power in the world. | |
| And they're willing to wait 50 years, 100 years. | |
| When you consider the timeline that they operate under, they aren't under the quarterly report kind of scenario that we are in the private sector here. | |
| So in terms of an economic strategy, what they do is they identify a key sector that they want to dominate. | |
| And what they do is they invite other companies in to participate and extract every bit of learning they can. | |
| And then ultimately, they figure out a way to kick that foreign company or entity out and undercut with prices, with manufacturing capabilities, steal economic secrets, and use that to drive that business out of business. | |
| And so you're seeing in Europe right now the automotive industry is caving to the Chinese pressure in that area. | |
| We're seeing it at other fields as well. | |
| And critical minerals is a key area for that. |
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