Steve Pieczenik - OPUS 80 China Trade WarRaw
Aired: 2018-10-04
Duration: 03:42

[00:00:00]  Hi.
[00:00:02]  This is Dr.
[00:00:03]  Pachenik.
[00:00:04]  For some time now, I've been talking about the impending conflict with China and the United States.
[00:00:10]  I'm becoming increasingly more concerned.
[00:00:13]  Our American stock markets are reflecting the fact that there is a contest of wills between President Trump of the United States and President Xi of China.
[00:00:23]  That is not good.
[00:00:25]  It is not good because we're entering into what we can consider a Cold War of China.
[00:00:31]  China is growing.
[00:00:33]  It has depended on us for the last 30 to 40 years.
[00:00:36]  And in turn, we can sit down with them and talk to them.
[00:00:39]  But instead, what has happened is we've increased the number of B-52s over flying Spratly Island.
[00:00:46]  The Chinese have increased their presence on the Spratly Island.
[00:00:50]  We have sold over $330 million worth of military ammunition to Taiwan.
[00:00:56]  And we're increasing the conflict to the point where really it is a serious Cold War between China and the United States.
[00:01:04]  Unlike the Cold War that we had with the Soviet Union in 1947, in which I finally helped to resolve that issue, that was not a contest of personalities.
[00:01:14]  That was a contest of two ideologies.
[00:01:17]  In this case, Let me warn President Trump and the United States, and President Xi as well, that China holds over $6 trillion of US tea bills.
[00:01:28]  If China wanted to come back and say, look, we're going to foreclose on these tea bills, we want to have them cashed out.
[00:01:35]  That means that 33% of our entire T-bill traffic, that's over $18 trillion, will be called in.
[00:01:43]  As a result of that, we will have to increase revenues, we will have to increase taxes, we will have a huge debt, which is about $6 trillion on top of already existing and growing $26 trillion debt, and we won't be able to handle that.
[00:01:59]  So, Mr.
[00:02:00]  President, I'm asking you to reconsider what it is you're doing.
[00:02:04]  A contest of will will not bring peace and prosperity to both countries, which is what we need at this present time.
[00:02:12]  President Xi has correctly said that China is an ancient power.
[00:02:17]  It is growing in its own way.
[00:02:20]  What he has added, and I do not agree with it, is that the Communist Party has to reinforce and eliminate the Western values.
[00:02:28]  I do not agree with you, President Xi.
[00:02:30]  I think that is a big mistake, given the fact that, number one, you sent your children, and particularly your daughter, to Harvard.
[00:02:37]  You know that there are a lot of young Chinese men and women who are trained in the West.
[00:02:42]  And number three, you understand that you have taken a lot of our technology.
[00:02:47]  In turn, we want to make sure there's a quid pro quo on the basis of financial equivalence.
[00:02:55]  From the point of view of Mr.
[00:02:56]  Trump, I want you to understand within your national security organization, there are no people there who have effectively taken down the Soviet Union.
[00:03:05]  Let me repeat that.
[00:03:06]  They are neither trained in psychology, they're not trained in the ability to have regime change, and certainly they're not trained in business.
[00:03:14]  What I'm asking you to do is to reconsider the fact that we have an impending Cold War between China and the United States.
[00:03:25]  Quote the famous words of Mao Zedong.
[00:03:29]  The higher the monkey goes, the further he falls.
[00:03:32]  That's true for President Xi, and that's true for President Trump.
[00:03:37]  Thank you and good night.
[00:03:41]  What the hell was that?