I've had the great honor of traveling across the world on behalf of our country. I've been to countries where governments either forced women to have abortions, like they used to do in China, or forced women to bear children, like the used to do in Romania.
India is growing at 8 percent. China is growing at 7 percent. And that for them is a catastrophically low number.
In America, one of the biggest problems we have with China is the illegal dumping of steel and aluminum into our markets. I have fought against that as a senator. I've stood up against it as secretary of state.
Do not suppose, first of all, that Mao Tse-tung could be the "saviour" of China. Nonsense. There will never be one "saviour" of China. Yet undeniably you feel a certain force of destiny in him.
I doubt very much if Mao would ever command great respect from the intellectual élite of China, perhaps not entirely because he has an extraordinary mind, but because he has the personal habits of a peasant.
Now [in China] within the framework of socialism - which is really social welfare in a social democratic framework - all they want to do is to get the kind of economic growth of the capitalist world. It can't be done. It creates the same kind of problems as in the capitalist world.
In Canada, the U.S. and most of Europe it may be easy to take political stands, this is something for which you can be forced to pay with your life, or your freedom, in many other parts of the world, from Iran to Russia to Pakistan to China.
I was in a fascinating meeting where one man had been in China recently. A Chinese professor has found evidence that Christians reached Western China before 90 AD. Before 90 AD! The idea isn't all that astonishing when we think about it. That's what the disciples thought they were supposed to do! And, I'm sure, the disciples just said, "That's it. Let's go!" And they all wound up dead. But everyone else did too!
I have just as much right to stay in America - in fact, the black people have contributed more to America than any other race, because our kids have fought here for what was called "democracy"; our mothers and fathers were sold and bought here for a price. So all I can say when they say "go back to Africa," I say "when you send the Chinese back to China, the Italians back to Italy, etc., and you get on that Mayflower from whence you came, and give the Indians their land back, who really would be here at home?"
America has lost 70,000 factories since China entered the World Trade Organization, WTO, another Bill and Hillary Clinton backed disaster.
I assure you we'll go on making our decisions without worrying whether it pleases or displeases the Soviet Union, China, America, France, or anyone else.
We've got to stand up for ourselves. That is, draw some lines, make it clear that after a while we're not going to get bullied or pushed around because I think there's some in China who are tempted to try to push the United States around. They want to bully us.
I really think it's extremely important for Americans to better understand China. And by better, I mean don't just read their lines. You've got to dig down to find out what's going on, and come over, see China.
We're losing our companies; we're losing jobs; they devalue us out of business - China and these other countries.
What [Donald] has put up for question is this idea of tariffs. Initially, he said if China won't stop taking advantage of us and manipulating their currency, then I will put tariffs in place. That spooked everybody because if you charge China a fee and an extra tariff for anything they bring into the United States, what's going to happen is that companies carrying those goods are going to raise prices. It's going to be expensive for people. People got scared of that, but then he walked that [idea] back. I don't think anybody is expecting heavy tariffs on anything.
I'm sure in a few years it will be unthinkable to say there were 20 years when we didn't recognize the People's Republic of China. And then we'll have to explain what the political constraints were and why it didn't happen earlier.
Japan, Europe, [and] America probably [are] better than last year [2015], not China.
Over the longer term, China will grow by about 6% or 7% per year. The Chinese authorities usually react pretty quickly to unfolding economic events, and you've seen them recently change a whole bunch of policies to be more conducive to growth. They have the power and capability to macromanage the economy - to accomplish their growth objectives - which means they're pretty much going to come close to what they say is going to happen.
As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
The issue has two dimensions. One is the legal dimension and the other one is the issue at the realpolitik. [In the] legal realm, we believe in equal rights for all people in all nations. If Israel, the United States, Russia, Pakistan, other countries, China, have the right to have a nuclear program and nuclear bomb, Iran, too, must have that same right. Now, at the realm of realpolitik, because there is a global consensus against Iran, and because there are all manner of dangers facing Iran, I am opposed to this program.
The best thing that we can do on climate change is make sure that China converts to a more nuclear future to limit those - that one coal-burning plant coming on a week that we expect - that would really help the planet. We need to work cooperatively with developing countries to make sure they emit less.
When it comes to economics, president-elect [Donald] Trump has promised to revive American manufacturing, get tough on trade with China, cut taxes and invest in infrastructure.
A dramatic unwinding of that relationship [between USA and China], by way of an aggressive trade policy, is one of the nightmare scenarios for the global economy as a whole, because it would result in a spiraling depreciation of the dollar, a surge in American interests rates, a collapse in the market for American government debt.
I've been to Asia, but I'd love to go to Thailand. I'd love to go to some rural areas in China.
Hillary Clinton's ready to pivot to Asia and provoke China. So are the Republicans. It's on domestic issues that there will be a gridlock.
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