HOUSE_OVERSIGHT_026874.jpg

CNN RLK: The trade deficit has a lot of things in there that are not accurate. You look at the iPhone, China will get 6, 10 percent of that, the rest are components that go into China. Services are 40 billion dollars — what Chinese tourists and students pay in the US — not counted in the trade deficit, which is a very complicated number. It also benefits the US because we have a lot of good products at cheaper prices. RLK: But there are five real reasons that are problematic to the US with respect to China: closed markets; intellectual property protection; industrial espionage, which includes cyber theft; forced technology transfer in JVs; and government support for future industries. Those are five real issues that the smart people in America are focusing on. And legitimately so. November 2017 Beijing 3:40 AM = DEVELOPING STORY JACK MA: TRADE WAR COULD LAST 20 YEARS fe") Robert Lawrence Kuhn | Author, "How China's Leaders Think" ‘¢:40 pm cer i @questCNN a November 2017 Beijing DEVELOPING STORY JACK MA: TRADE WAR COULD LAST 20 YEARS ON Robert Lawrence Kuhn | Author, "How China's Leaders Think" QUEST MEANS BUSINESS - — HOUSE_OVERSIGHT_026874