Oct. 12, 2019 - Steve Pieczenik
04:34
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| Time | Text |
|---|---|
| Hi, this is Dr. | |
| Pachenik, and I want to give great kudos to Trump, to Mnuchin, to Ross, to Lithgow, O'Brien, to President Xi, to Vice Premier Li, and all the members of the negotiating team on both sides. | |
| It was an amazing moment today. | |
| Phase one of negotiations had been successful, as I predicted. | |
| It is not easy to negotiate with China. | |
| I had to prepare for Many secretaries of state and senior officials over 20 to 30 years on dealing with China. | |
| Number one, China has what we call the Middle Kingdom complex. | |
| That means they are historically superior to our young Western culture. | |
| Number two, they base their entire relationship on something that Trump knows very well, and that's called guanxi. | |
| Q-U-A-N-X-I. Personal relationships. | |
| That's why Trump did a brilliant job as a businessman. | |
| To ingratiate himself and his team with President Xi, who's a communist, but he understands very well economics, and Vice Premier Li, who went to Seton Hall and went to Harvard. | |
| I want to thank Mnuchin, who went to Riverdale Country School in Yale, and Goldman Sachs. | |
| I want to thank O'Brien, who led the team, and the other members of our team, Ross and Liv Dyer. | |
| And I want to particularly thank our civilian and military intelligence that did a brilliant job of manipulating and controlling the dynamics of Hong Kong, and they resolved it at a propitious time. | |
| Now, let me explain to you what elements we've agreed on. | |
| Number one, we've agreed on technology transfer. | |
| That means that United States and China will work on artificial intelligence, on the 5G, on every other component that we have with various companies, including Huawei and other companies where we need to... | |
| Exchange our intellectual property and their intellectual property. | |
| So intellectual property comes into the technology transfer. | |
| That means that whatever we have in the narrative and content and whatever we have in science application, we will also share with the Chinese. | |
| Number three, we have an agriculture relationship, which means That we went from 5 or 8 billion dollars in exports from the Midwest to about 50 billion in soybeans and other products. | |
| That means Nebraska, Minnesota, Idaho, Utah. | |
| All the Midwestern countries are going to do exceedingly well, and as Trump said, so will John Deere and our farmers. | |
| So they will start exporting a lot. | |
| The important thing to understand, we have financial instruments that will do very well and we will have transparency. | |
| That means that China cannot reduce their currency and deflate it or devalue it at a given time so that we have to pay exorbitant fees. | |
| In turn, we will have Visa, American Express and all other credit card companies that will be accepted into the China, as well as Morgan Stanley and Goldman Sachs. | |
| What this is all about, and Trump has repeated it over and over again, and I've said it, this is not just about economics. | |
| This is about world peace. | |
| For 30 years, China has grown and accelerated and came to really a huge superpower, a superpower that can confront us at any given moment in time. | |
| Instead of going head-to-head in a conflict, which is not what Trump wanted, it's not what I wanted, and it's not what Republicans wanted, we instead went into a negotiation that was very difficult. | |
| And at times you thought, and I thought, it wouldn't continue. | |
| But I had complete faith in Trump and his team because I knew that historically these were not politicians. | |
| These are businessmen. | |
| Every time you think that Trump is acting irrationally or erratically or he's not appropriate, I want you to think about one thing. | |
| He's a businessman. | |
| He's not a politician. | |
| The people he appointed, and I got to give kudos to Kushner and Ivanka Melania through having brought up the whole team and supporting that team because it was not easy. | |
| This is a business family. | |
| This is a family that deals in numbers and outcomes. | |
| Let me quote to you what President Xi said. | |
| China will always maintain economic stability and peace. | |
| And let me quote to you Trump. | |
| Trump said, I understand China. | |
| I've worked with China a long time and I will make a permanent deal. |
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