Xi Jinping calls for ‘New Long March’ amid trade tensions

Channel: Fox Business
Published: 10 hours ago

Description
Hudson Institute’s Dr. Michael Pillsbury on Chinese President Xi Jinping’s claim that China is embarking on a “new Long March.” Pillsbury also reacts to the U.S.-China trade war. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that i...



Transcript
Joining us tonight, dr. michael pillsbury, he's director of the center for chinese strategy at the hudson institute author trade adviser to the trump administration, michael good, to see you and, let's start with first this. This reference by xi jinping to the long march in describing how they're going to compete, rival and oppose the united states. Well, a long march was a year long. This back in ...
1934, the chinese communist party was almost wiped out and they made a huge pivot. All around china before setting up a base from which, after 10 more years they took over the country, so the reference to the chinese means huge adversity. Huge punishment is coming from the great hegemonthe americans so get ready for toughness and pain, but eventually we will take over. I think he means the world in this case he doesn't mean take over china, even as his envoys are saying, and his spokesman from beijing to washington are saying that the chinese have only modest aspirations and they have no interest whatsoever in world dominion right. It'S pure nonsense. Well, as i understand their way of expressing in themselves, it'll be a big accident lou, they have four times more people than we do so as soon as our incomes are the same, their gdp will be four times bigger, but we will love it. It'Ll, be this happy new world. It'S obviously designedto make us complacent or even have divisions in our own country, but i think president trump saw through this in his executive order.

Just last week may 15th right where he comes out against digital threats. He talks about sabotage and subversion in this executive order. These are really strong words coming back from president trump. They are they're. Also apt on point and direct. The chinese, in talking about a long march, would be correct and inferring that there will be punishment, because this is an economy, as you all know, that's managed. After all, there is a there is a tendency in the the liberal west to want to ascribe to it all of the the featuresof, a capitalist free enterprise, democracy, which is pure pure nonsense again. Well, their view is the government has to control the commanding heights, which means roughly 1/2, the economy right. So the irony here is that china's defending that very same system they set up when they took over, which is socialism of a type even bernie sanders. I probably wouldn't recognize, but president trump is after that system and modifying it. So it's more fair to the united states. I think he's going to succeed, but it's gon na be a lot of pain for china to suffer, i'm afraid.

There'S also a good case to be made: is there not that china would have suffered mightily it waseven if there were a trade balance between the two countries? Even if china were not stealing half a trillion dollars from us every year, because china's economy is subsidized, it is centralized - and in point of fact it subsidizes immense over capacity for which there is always only one result in any economy, whether it be a capitalist economy Or communist, and that's disastrous - i agree. In fact, part of the focus president trump has had in the trade talks is to try to get up get some of those subsidies. Reduced cut back on the intellectual theft is, there's a feeling. I think here in washington lu that china stole its way to the top and it's justgot to stop or they're gon na be double our size and economic strength. We just can't have that the president said twice now: china wants to surpass america, then he pauses at for drama. You might say, and then president trump completes his thought by saying it's not going to happen on my watch. It'S not going to happen, and i think that even g xi jinping now would take that to the bank and understands that the president clearly means it all right is we, as we look at the relationship between the two countries? Yes, are the prospects in your judgment, of reach, not a trade deal, but reaching at least coexistence that is acceptable to both thechina and the united states, or is there, in your judgment, a impulse within china? Now that is so strong and so so rich that it means conflict assured you know up until two weeks ago i thought the former i thought. The hundred and fifty page still secret trade deal was going to solve all the key issues, and so us and chinese investment and exchange of goods exchange of services would be on the upswing and what this whole thing would have a happy ending. It'S beginning to look now like the hawks of grab control back in beijing and they're shifting away from this idea of a harmonious outcome, they're shifting toward two separate systems, the editorin chief of global time is mister, who has a long tweet today saying this is all Good we're going to turn on our own efforts from now on for research and development. Of course, i think he means the theft will still continue. Yes, but it wants to have a more separate decoupled if you will decoupled chinese economy from us. This is bad.

It'S a bad turn in chinese politics, but see the hawks. Have this much power and there's also perhaps a turn in this country too. Rather than negotiate our security for intellectual property, our technology or innovation. Perhaps it is well past time that the united states protect itself and secure its own properties, andintellectual property in particular. Do you think that's possible? I take a lot of effort because they've gotten away with murder, as president trump says, but lou. I hope you notice, president xi is kind of responding to your program. You'Ve had some guests talk about civilizational challenges between the us and china. President xi is now talking about that and saying it's really bad and really stupid, but the implication is he thinks chinese civilization is going to win, so we should give up now. I wonder if he's watching your show lou well, if he is, he probably didn't like the answer that i suggested for the training, which was go to hell dr. michael pillsbury, great tohave, you with us. Thank you thanks. So much.



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