President calls for better trade flow between US, China
Michael Reagan reacts
- Duration 6:47
- Date Feb 14, 2012
Michael Reagan reacts
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A new effort to -- set the tone with China President Obama earlier today called for cooperation and understanding.
Between the two nations during a meeting with China's vice president.
Our president also addressing our trade deficit with China it exports are far more to America.
Then we sell to them and it's been an -- going source of contention.
Last year the US trade deficit with China hit nearly 300 billion dollars in other words we Biden more 300 billion dollars more with the goods from them and they do -- -- That's up eight point 2% from the previous year's all time high when China overtook Japan as the world's second largest economy.
My next guest says the White House has no business ruling out the red carpet for China.
Michael Reagan is chairman of the -- group in a political consultant Michael thank you for being here.
Why why shouldn't we eat and what choice do we have given the amount of debt -- they own.
It is it medication you after what choice we have we put ourselves in this position to roll out -- red carpet for a country that undervalued compared.
Dollar if you will which takes care of our dollar devalues our currency hacking into our computer systems.
-- voting against us the UN Security Council nobody seems to pay a price with this administration of doing anything.
Against United States of America and they've got to be just happier than hell.
The fact that we're at this point cutting our defense spending by 500 billion dollars while they are going out.
And building up they're defenses and helping other countries like North Korea Syria Iran and others.
Build their defense capabilities and offensive capabilities.
Three and basically one of the problems that were facing the China is you know that you talk about devaluing their currency.
It's costing -- jobs it's it's literally costing American jobs without that their failure.
To get real about their -- you know they're making things and and companies are buying things from them and not here because costs are artificially low over there.
President Obama has tried to address at least -- trade deficit problems with China.
I you heard -- -- -- hill testimony earlier about how we're not happy -- -- hacking us.
But given all these things weren't happy with them or Michael you know that they -- the UN resolution on Syria.
All the trade issues that we're talking about all the debt they hold.
Can we do anything about it that big it just seems like they have such a foothold a strangle hold over us given the debt.
Well they they haven't they -- a stranglehold because you know all they do is take what we give them.
If if our economies in the tank and we're running trillion dollar deficits every year.
Who's -- the deficit the Chinese -- by the deficit.
That's exactly what they're doing the best way to stop them.
From doing these things is -- get our economy back rolling again.
-- start creating jobs United States of America make it easier for corporations to do business here.
Instead of over there when I look at this -- write about this in my book Megan knew Reagan revolution.
It -- the only people learn from what Ronald Reagan did with with the Soviet Union.
Was the Soviet -- the Russians and the Chinese.
One Reagan knew the Soviets would come to the table because he was devaluing their -- with the same time -- talking tough about the evil empire.
He made a deal with us what these saudis in fact -- to -- the oil and actually undermine your economy remember Mikhail Gorbachev coming to me one time and I.
And I said -- how bad was it -- In the Soviet Union.
Macau and he's -- bat.
-- it it was so bad I had to appoint a czar apparently goes because the women of Russia couldn't it would fight any goes on the shelves.
And you've never seen a mad Russian woman told they can't find any -- what exactly what the Chinese are doing to us.
By devaluing their money.
Taking our currency and -- -- worried is today.
They are doing to America what Ronald Reagan did to the Soviet bloc to bring them to their knees and this administration.
Better wake up to it.
Well assisting agency to bring them to their knees because President Obama wasn't quite on his knees but he certainly down a lot of flak.
After the Chinese -- -- visited America back in 2010 is April 2010 and he out.
And this is a big deal when he is in particular when you're dealing with Asian leaders who bows to home.
How deep is the bow usually the more powerful person is not doing the balloting they say and certainly on American territory.
He got criticized for being for the American president vowing to the Chinese president is when you can see the Chinese president.
Is standing up right.
The reason people thought this is relevant because they thought it spoke to a larger problem between our country.
And China's Michael.
Well there is a large problem between our country.
And and in fact -- -- -- right about the ballot I mean I have a lot of friends -- Chinese community here in Los Angeles.
The fact is they returned -- -- respect -- I returned about.
If I don't return -- -- that shows another side.
And this you know when he was there what the president and I think the president was -- there -- no return -- -- that point.
Of -- United States -- colleague pretty low the lower you go.
The more respect you have for that position and the more you show that they are in the powerful position to you -- United States need to understand.
-- the president and I think America the most important the most powerful man in the United States in the world.
How -- this president is quite figured that one out yet and he better figured out pretty soon because we're going the -- of -- and we're getting -- at light speed.
Did given the fact that there they're hacking asked the hacking major American corporations and Nortel had a bunch of problems after they -- -- them allegedly there that had hearings on Capitol Hill over this.
You know that the the veto of the UN resolution to condemning Syria's massacre of its own people just happen last weekend.
Should we be doing all this with the with the Chinese vice president coming over here meeting with President Obama.
Mean vice president Joseph Biden meet with Hillary Clinton meeting -- GOP in other congressional leaders on Wednesday I mean it's it's an all access store.
It's an all access tour it's interesting how Netanyahu street just a few years ago.
President I think actually turned his back and Netanyahu why do we treat Israel that with disdain so often.
And others those -- may not being so friendly to us in fact week.
Roll out the red carpet for and the world understands and knows that I think we have a very weak president.
Back in Washington DC and in this president if he doesn't strengthen himself he if he doesn't take over the presidency and all it.
In fact the Chinese.
Will -- the White House.
Israel doesn't own a trillion dollars of our debt and that's that's been a problem for a couple of presidents now Michael thank you.