REBECCA, MENTIONED THAT LARRY ELLISON, ORACLE COFOUNDER WAS ON WITH MARIA.

HE DID MAKE COMMENTS ON PRESIDENT TRUMP’S ECONOMIC POLICIES.

>> IN TERMS OF ASSESSING THE TRUMP ADMINISTRATION I THINK THERE IS STYLE AND THERE IS SUBSTANCE.

I AM NOT GOING TO COMMENT ON STYLE BUT I’M VERY HAPPY THAT.

THE UNITED STATES ECONOMY IS DOING WELL.

I’M VERY HAPPY WE’RE AT RECORD LOW UNEMPLOYMENT RATES.

THERE ARE A LOT OF GOOD THINGS THAT. PEOPLE WANT TO ASSIGN SOME OF THE CREDIT TO BARACK OBAMA, SOME DONALD TRUMP. THAT’S THEIR, EVERYONE HAS THEIR OWN OPINION. I JUST THINK IT IS WONDERFUL TO SEE THE U. CONNELL: LET’S KIND OF USE THAT, TO THE EXTENT WE CAN TO HAVE WIDER DISCUSSION WHETHER PRESIDENT TRUMP, MAYBE IS ON TO SOMETHING WITH HIS ECONOMIC AND GLOBAL POLICIES, EVEN.

IF STYLE, ON HIS SIDE LEAVES. FROM “THE WALL STREET JOURNAL” CHIEF ECONOMICS COMMENTATOR GREG IP JOINS US FROM D.

MOST RECENTLY WAS KIND OF ALONG THOSE LINES, NOT EXACTLY WHAT LARRY ELLISON IS TALKING ABOUT, BUT THE WHOLE IDEA THAT PRESIDENT TRUMP CAN SAY SOMETHING, YOU KIND.

OF GET LOST IN IT A LITTLE BIT. YOU DON’T REALIZE, HEY, MAYBE HE IS ON TO SOMETHING EVEN IF I DON’T.

LIKE THE WAY HE IS SAYING IT. YOU WERE TALKING ABOUT TRADE TO SOME EXTENT, THE.

IDEA, HEY, HE GOES AFTER CHINA, EVEN IF YOU’RE KIND OF A FREE TRADER, HE IS MAKING SOME GOOD POINTS AND SOME OF THE GLOBAL RULES DON’T MAKE SENSE. BUT LET ES SEE WHY UNITED STATES IS PART OF SOME INTERNATIONAL TREATIES. WE’VE DONE IT SINCE THE END OF WORLD WAR II. WE’VE DONE IT FOR A COUPLE REASONS. WE’VE DONE IT TO SUPPORT OUR ALLIES IN EUROPE AND ASIA. AND WE DETERMINED THAT THE GLOBAL INTEREST IS IN THE U.

THAT IS GOOD FOR OUR PARTNERS AND GOOD FOR US. THAT DOESN’T MEAN EVERYTHING CARTE BLANCHE IS GOOD FOR THE UNITED STATES. UNITED STATES HISTORICALLY MADE CONCESSIONS AT THE SAKE OF ITSELF FOR THE GLOBAL GOOD.

ARE NOT NEEDING OUR HELP ANY LONGER, THEY ARE NOT POOR OR MORE IN SENSE OF RIVALS. LET’S SEE IF THE PACTS NEED TO BE FIXED. A GOOD EXAMPLE I WROTE ABOUT, OBSCURE TREATY THAT GOVERNS INTERNATIONAL MAIL. THE RATES ARE FIXED IN SUCH A FASHION, THEY’RE ESSENTIALLY TO SUBSIDY IMPORTING STUFF FROM CHINESE E-COMMERCE MERCHANTS. POST OFFICE AND HURTS AMERICANS. THIS ISN’T NEFARIOUS ON CHINA’S PART, HEY, THERE IS LOOPHOLE.

IN THIS TREATY LET’S EXPLOIT IT. THE TRUMP ADMINISTRATION SAYS THAT WILL NOT WORK FOR US. CONNELL: I THOUGHT, BY THE WAY, I DON’T THINK I’M ALONE IN THIS, I DIDN’T KNOW A HECK OF A LOT ABOUT THE UNIVERSAL POSTAL UNION BEFORE I READ ABOUT IT IN YOUR. I’M SURE A LOT OF PEOPLE DIDN’T REALLY KNOW HOW ALL OF THIS.

REALLY WORKS I GUESS THAT IS PART OF A LARGER POINT. THE OTHER THING, YOU BROUGHT THIS UP A SECOND AGO, WHEN YOU START TO SAY, HEY, CHINA YOU’RE A DEVELOPING COUNTRY, HEY, CHINA, VERSUS YOU’RE THE SECOND LARGEST ECONOMY IN THE WORLD THOSE TWO THINGS ARE DIFFERENT.

WE, THAT SEEMS TO BE A BASELINE IN ALL OF THIS. HOW SHOULD WE LOOK AT CHINESE WHEN IT COMES TO DISCUSSIONS ABOUT TRADE? WHERE ARE THEY OF THE WHO ARE THEY RIGHT NOW? >> THEY’RE STILL A DEVELOPING COUNTRY, IN A.

SENSE MUCH POORER THAN THE UNITED STATES. TRADITIONAL TRADING PARTNERS LIKE CANADA, EUROPE AND THEY ARE TRADING ECONOMY AND ADVANCED AND HAVE LONG TERM FOCUSED PLAN TO BECOME A WEALTHY COUNTRY AND A LOT OF ELEMENTS IN THAT PLAN ARE ESSENTIALLY IN CONFLICT WHAT THE U. TWO COUNTRIES HAVE VERY DIFFERENT VISIONS HOW THE WORLD.

TRADING SYSTEM SHOULD PROGRESS. THE UNITED STATES IS SIMPLY SAYING, LOOK THAT IS NOT ACCEPTABLE TO THE WAY WE SEE IT ANY LONGER. AS YOU PROBLEM BELY KNOW, THERE IS BASICALLY IMPASSE RIGHT NOW BETWEEN THE UNITED STATES AND CHINA.

STATES SAYS TO CHINA, A LOT OF THINGS ABOUT YOUR SYSTEM ARE UNACCEPTABLE TO US, LIKE FORCED TECHNOLOGY TRANSFER. THE CHINESE RESPOND, WHAT ARE YOU TALKING ABOUT? WE’RE NOT FORCING YOU GUYS TO TRANSFER TECHNOLOGY.

ENTERING VOLUNTARY AGREEMENTS WITH OUR COMPANIES. HE RESPONDS THAT YOUR COMPANIES ARE PART AND PARCEL OF YOUR GOVERNMENT.

DICHOTOMY OF SYSTEMS AND WORLD VIEWS. THAT IS ONE OF THE REASONS WHY.

WE’RE NOT HEADED FOR EARLY RESOLUTION TO. CONNELL: GOOD ARTICLE ABOUT IT IN THE JOURNAL TODAY, ABOUT WHERE WE ARE IN.

THIS, AND TO YOUR POINT THE LARGER POINT WE’RE NOT MAKING PROGRESS.

BECAUSE WE CAN’T EVEN GET STARTED. I, IT IS ALWAYS THE CASE WITH NEGOTIATIONS WHEN YOU’RE LIKE THIS, YOU CAN’T PICTURE SOMETHING GETTING STARTED IF THERE IS NOTHING IMPETUS FOR. THIS ONE ESPECIALLY, I DON’T KNOW THAT WE’RE.

ANYWHERE CLOSE TO KIND OF GETTING REAL NEGOTIATION ON THE TABLE. ARE YOU IN THAT SAME BOAT, THIS THING WILL DRAG ON A REAL LONG TIME WITH THE U. AND CHINA? >> THAT IS THE WAY IT KIND OF LOOKS. MY COLLEAGUES HAVE A GREAT ARTICLE THAT I WOULD RECOMMEND, EVERYBODY WATCHING THE SHOW READ TODAY, ABOUT THE BREAKDOWN IN NEGOTIATIONS. PRESENTED A VERY LONG LIST OF DEMANDS. THE CHINESE DIVIDED INTO THREE CATEGORIES. CATEGORY THREE, THIS IS OFF THE TABLE. THEY NEVER TOLD THE AMERICANS WHAT ARE IN THE DIFFERENT CATEGORIES.

NOT SURE WHAT EXACTLY THE CHINESE ARE TRYING TO DO. THIS IS NOT A TRUMP ADMINISTRATION THING. OBAMA ADMINISTRATION, BUSH, CLINTON ADMINISTRATION, FACE THE SAME PROBLEM, CHINESE SAY THE RIGHT THING, MAKE THE RIGHT GESTURES, DRAG OUT THE PROCESS. LOOK AT THE PROBLEM WITH STEEL. JOINED ALL THE OTHER G20 COUNTRIES IN 2016 IS INCLUDING CHINA A FORUM TO DEAL WITH GLOBAL EXCESS. HERE WE ARE TWO YEARS LATER VIRTUALLY NO PROGRESS MADE ON THAT. I WANT TO ADD AN IMPORTANT POINT HERE. BEING FRUSTRATED WITH CHINA AND SAYING SYSTEM IS NOT WORK SOMETHING ONE THING.

IS NOT NECESSARILY THE WAY YOU DEAL WITH IT. EVEN IF YOU AGREE THE TRUMP ADMINISTRATION HAS LEGITIMATE COMPLAINTS ABOUT SOME ASPECTS OF THE SYSTEM YOU COULD ARGUE IT IS GOING ABOUT IT FOR THE WRONG WAY. HARD TO SEE WHAT MOST OBSERVERS SEE WHAT HE ACCOMPLISHED BY IMPOSING.

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