Special Report Online: Jon Huntsman

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Welcome to another edition of Special Report on line -- center seat segment I'm Bret there we welcome Republican governor.

The Republican presidential candidate former Utah governor Jon Huntsman thanks for continuing the conversation.

Jane -- Kathleen from Ohio says very nice Mandarin governor.

Focus so what did you see a -- I said thanks for giving me this great opportunity that no doubt will lead to the American presidency that nice yeah.

That would have been good on the show out.

-- Tea Party.

Tell us your view about it and don't say you know it's -- we love the enthusiasm everybody.

Loves enthusiasm activism and all that.

Is its ideas and programs are -- good for the Republican Party.

And if so why.

Any idea is are good for the Republican Party but let me say the focus that the Tea Party has given on debt.

And on fiscal responsibility.

Is extremely important.

Have they narrowed the discussion to that which is most important in the sense that.

You know this cancer growing within our country called debt.

-- they held individual elected officials responsible for fiscal responsibility absolutely and I think that's been a huge boon to the party.

So correspondingly you can -- it -- Wall Street has focused America on inequality.

You sympathetic with the movement.

I'm sympathetic with the idea that we're not gonna bail out banks anymore.

I'm sympathetic with the idea that we've had trillions of dollars disappear with nothing to show on the balance -- -- debt and no uplift in people's lives.

I'm sympathetic with the idea that.

We've got banks that are too big to fail.

In this country.

And what do you think is -- -- prescription for those sympathies.

You do.

-- -- -- -- -- -- -- There amount sort of free not gonna bail them out would have won the problem what did you get a domino effect out of Europe for our bags -- well that's and that's the issue logo if you look at what what is happening in Europe and it will continue to.

Expand and impact some of our own banks and I know the exposure is.

Is is is minimal to Europe which is good but that still leaves us if we're gonna solve our economic problem.

And fire the engines of growth and rebuild -- manufacturing muscle there and fix housing.

Drilling is who we got a look at banks as well and say we've got six institutions.

That represent 66%.

Of the world -- in the nation's GDP.

Nine point four trillion bucks.

In the 1990s it was 20% of our GDP and I say if the two trillion dollar institution goes so we all -- -- And I say I'm not sure that's fair I'm not sure that solves a longer term problem for us.

And how you remedy it we have to have a conversation about right -- these institutions look what would you have done since September of 2000.

The banks were about to go under it was Lehman Brothers would you have not.

Done -- what would you have done instead.

I think having some sort of Chapter Eleven bankruptcy reorganization.

Is a much better step.

Then what we did and I was on record at least with the auto bailout saying as much and those stars is is that banks to I understand.

I understand but still you've got assets -- you're holding similar toxic assets -- have to spin them around and find a relative market value for them so.

You -- answered -- question about the Tea Party originally what about occupy Wall Street.

And what they are doing and what the error message is if there is a collective message that anyone can divine from that.

Protest what He what is your make of that.

I I've seen this -- before in the sense when I was -- US trade ambassador I saw the antiglobalization.

Movement.

I saw the anti WTO -- -- we try to negotiate.

Free trade agreements.

I saw the White House surrounded in 197172.

I saw that pentagon surrounded.

Same time and so fearful were they that they had fifty caliber machine guns on the front steps.

You know every generation has issues that come up I hate the -- capitalism message.

I really do.

I think I think that that is wrong.

But.

Should we give people the opportunity to stand up an expert voice their concerns I kind of liked that port.

You know in China you have more than five people gather on -- street corner they're taken out by the internal security bureau.

And we on the other hand allow people to speak out I don't like the message I -- agree with it.

There are some points of convergence on the banks and on on that the debt that we've seen disappear.

But by and large -- you know we allow people to gather and speak out.

-- -- -- -- That's on the bank -- successful and you retreated attend -- article really interest -- Tim Carney article from the Washington examiner the other day about this very issue and usually you wrote down with big banks and you said just now to Charles we need to have a conversation about right sizing these institutions.

For some people who believe in limited government those are not necessarily those are some scary words what role would government -- right sizing these institutions.

It it it would need to be a limited approach there's no doubt about we don't need a bureaucracy handling this -- we need a conversation.

As a nation.

About whether or not too big to fail is a good long term strategy.

I mean let me just give me an example so.

1995.

To 1999.

You know win six banks were 20% of our GDP is who is opposed to 66.

Goldman Sachs was.

200 billion dollars in size and terms of assets.

2008.

They were one point one billion dollars in size -- -- -- commence shortly as a nation.

As compared and contrasted to the risk that we were -- I'm not sure.

But that risk reward kind of discussion I think is important for this country and I can't give you an automatic -- I wouldn't pretend to have an automatic fix but it's a lingering problem out there that I think we need to be mindful of.

I'm finger back to China your advantage in this that I on presidential race so far obviously as your experience and on your knowledge of China.

Which I don't think at this point up to this point has to find your candidacy.

-- called the relationship critical in the past and you said there is no other relationship that -- mismanaged carries greater negative consequences for America and the world.

We've also said it's really healthy relationship.

-- cool.

To have a truly healthy relationship we need to infuse the relationship.

With shared values.

Can you say specifically how that is accomplished you acknowledge that the trajectory of this relationship is unsustainable.

-- -- the Chinese are clearly not interest in our values can you explain.

Well they have a movement domestically.

That is making them aware of these values that they never -- before.

He has called five to 600 million Internet users has called eighty million bloggers who were speaking out like never before.

So when I met with the twelve largest bloggers in China at the top two just to give you a sense of proportionality here in the top two.

-- leadership's individually about 125 million.

What were they talking about they were talking about human rights they were talking about religious freedom they were talking about political reform they were talking about the role of the Internet and society.

They're talking about military transparency.

I -- a lot of issues that are on the minds of folks there.

We've had forty years now I mean -- kind of look back on Nixon's arrival in Beijing February of 1972.

-- a couple months forty years.

It's been by and large relationship based on shared interest we trade we invest.

We do some regional -- -- -- cultural exchanges now they're quite substantial in terms of shooting machine -- We haven't done.

An adequate job of -- of infusing values.

Shared values into the relationship and I would argue that any relationship that is durable longer term.

Cannot be made up of your shared interest you've got to have shared values and that means in our discussions going forward.

Particularly after the -- party congress when the fifth generation comes to the forefront next year.

You will see 70% of the top 200 leaders in China -- -- seven of the nine members of the standing committee of the Politburo.

The fifth generation -- remember the great leap forward 1960 to 64.

They barely remember the cultural revolution 66 and 76.

They're a little more hubris taken nationalistic because their point of reference is.

Thirty years of -- nine and 10% GDP growth this is a generation that we're about to have to deal with.

And I see as we Begin building a -- relationship with the fifth generation.

We need to infuse our dialogue with more the ways of shared values.

And you.

Governor Eddie from Texas asks don't you think it was -- to skip that debate.

I stood based on principle.

And on solidarity with the people of New Hampshire.

And I think we've built some very important bridges with the people of New Hampshire and I thought frankly what played out in Las Vegas was an embarrassment.

-- -- Because there was too much focus on theatrics you'll to -- me I I had a town hall meeting during the debate where the largest town hall meeting we've ever done was pac.

In this old 1830s.

White clapboard town hall.

And we did an hour and a half of just Q&A with the audience share a vision about rebuilding our manufacturing muscle in this country which is what our campaign's all about.

And did.

QQ and a with the audience so way it -- votes in New Hampshire is something that's -- highlights of all the highlights from half.

Hello I'm talking asks have you used any of your own financing for your -- and yes -- have.

And you'll continue to.

Well.

I believe that as we go in New Hampshire so we'll go -- for our our our financial strength and that's what's important to him -- him.

We're not we're not too big to -- and Charlie Colorado immigration policy bullet points.

Got to secure the border.

People talk about it is very real life and down there with my National Guard troops -- governor we've got.

We've got 18100 miles.

We've done a third of it.

You know between fencing and technology which drives our National Guard troops deploy and put in and boots on the ground.

We can turn to the American people and we can for the first time say we've achieved a mighty important objective in this country we've secured the border.

But in terms of illegal immigration.

We've already saw that when Brett we've screwed up our economy to the point where nobody's come in and more we don't have jobs.

-- when I -- a solution.

Are.

Are we spending too much on defense.

When were adequately protecting.

Our citizenry were not spending too much on defense -- spending enough.

What I'd like to see -- do I mean let's recognize that the 21 century is the Asia Pacific century which we ClaimID important role.

And how we look at defense spending I think needs more and more to be informed by the rise of the militaries of Asia Pacific.

Securing the trade routes where three quarters of our trade will pass across the Pacific.

I think just as important is the idea that we look at the procurement and purchasing practices of pentagon.

So if you look at the 11100 ship navy that we had after world -- to.

115117.

Aircraft carriers.

We had -- C which was responsible for the ship building exercise a thousand people making under -- a year.

We have 25000.

NFC today making for ships -- that or down to.

And when you look at the average cost of an F 1860.

To 65 million dollars compared to what present value during the Vietnam period it ought to be.

There's a whole lot of I think superfluous decision making and red tape involved in those practices it needs to be looked at I think we can find a lot of efficiencies that are.

And red tape this stuff since you've -- around for generations and everybody says they you know eliminate waste and abuse what was troubling and -- you know he's he's been there before us navy secretary understands -- that works we spent about 4% of for a special.

Product on defense.

In Kennedy's time it was 10% do you think that where we are now is roughly right.

We should all be driven by external threats so how would you deal with China -- Militarization.

Of the South China Sea and it claims it's making on the resources of its neighbors clearly it's building an aggressive.

And He any ship so marine forests which would threaten us and its own surface ships what would you do about that and would you be prepared.

To increase our spending as a way to reassert our supremacy in that region.

I would take the USS Ronald Reagan and I would politically Cameron -- Pay as you as as just a sign of how the region is changing and how there is deep deep concern about -- that enabled us as well I'd say let's Begin with -- meaningful military to military relationship as you we would need to do more and more with Indonesia and Malaysia we've got a good -- Singapore.

Philippines you know they booted us out after -- -- we have opportunities there.

They want us in the region they see the rise of China and -- South China Sea issues and those -- become more and more.

A flash point issue we've got to respond these Cameron today about.

-- being a lover of irony.

Did to a certain extent I was hoping somebody would -- that I want to do a quick lightning round and you have to go to a speech -- George Washington University just students there.

A couple of questions one is why did you first want to become president.

Do you remember when that one's.

What grade school.

It says that -- -- -- -- was -- it was winning junior class president and losing two elections by senior years so I dismissed politics totally and became a rock musician.

But I'd have to say seriously.

Discussing it with my family when we return from China.

Studio equipment yeah I'm just some of the sustainability of your campaign are you currently paying all of your paid staffers are -- they up to date I think getting -- still there.

You are and where has that and the case and -- be the case going forward that you will have people walk of if not.

They didn't -- shows how much they love you they have standing around without getting paid but you know have campaigns sometimes -- little -- -- from time to time but.

We're we're paying them today.

I think they do and maybe we put that to the -- anymore you endorsed secretary for president as he's the nominee of your party.

Of course and used the -- -- -- of course.

Charles we're going.

We have everyone else on that stage.

Is there anybody.

Would you I don't wanna go through on the names or anybody you might be somewhat hesitant when.

Well since anybody -- the station I could I -- I believe we're gonna win the nomination I think that will will take care that that anyone who can make it through the refiners fire.

-- primary season any of the eight.

-- include Ron Paul.

I'll have to wait and see it was interview goes with it in tomorrow.

How about this -- I'll -- you closer to Ron Paul -- Mitt Romney.

My foreign Mitt Romney is in the Cold War I just have to tell you that.

Ron Paul is no where I'm second decade in the 21 century I -- a foreign policy that has led by economics.

I want this country.

To lead by economics free trade investment international economic engagement in a way that plays back the job creation and strengthening our -- we have totally underutilized economic -- In international relations I want to lead by economics.

But I -- -- make sure we have is strong recognition of the ongoing counter terror and a symmetric threat we face.

Governor Huntsman we thank you for your time we even kept -- over so thank you for that's an honor Bret thank thank you all very much and thank you for telling us what you -- mantra.

Yeah did you receive extra data and now we -- double check thanks so much press report online.

And our senator seat segment tomorrow as we said congressman Ron Paul.

Joins us.

Of course we'll join you every weekday 6 PM eastern for Special Report control room sort of -- -- -- --

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Special Report Online: Jon Huntsman

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