California. Im reall a member of the leadep council. As chairman of the California Republican party and moderator for todays program. What a welcome our audience members and thank you for your support here. She was make a donation, please text the words donate to 415 3294231. We will be discussing this in the next hour and be sure to ask your questions as well. If youre watching along with us, please put your questions in the text chat on youtube and we will get to them later in the program. And now it is my honor to introduce our distinguished guests. Maria bartiromo is anchor the mornings with maria and with wall street on Foxbusiness Network as well as anchor of sunday morning features on the fox news channel. If you are a busy woman maria. And shes also twotime Emmy Awardwinning journalist who was the first person to report live in the florida New York Stock Exchange in 2011, made history once again as the first female journalists to be inducted into the hall of fame. Duf also with this is james, her coauthor this book an assistant editor and the author of best of the last column for the wall street journal as well as serving as a fox news contributor. James also was a former investor at the United States securities and Exchange Commission it there coauthors of the new book, the costtrump, china and american revival. Economic revival after the coronavirus shut it down and they are viewing that the playbook is resulting in the greatest job market in history can output americans back to work. They say the president fight cutting red tape and slashing business tax rates spurred Corporate Investment done to the number of u. S. Jobs may save these policies and once again lead to prosperity. Were just a few days from the president ial election. A very spirited discussion so maria and james lets jump right into it and thank you for joining us today. Maria bartiromo thank you. James thank you and its an honor to be here. Thanks to the club. Duf obviously just to a few days to finish the voting. Thank you so Something Like 75 Million People have already voted. Do either of you have anything that you want to say specifically about the election and with these next five days may hold. James freeman yes, i think it will be a nailbiter. Look, i think given the fact that so any people have already voted. The cursing summa decisiveness on the part of some of us. I think the next five days will be important in terms of voter turnout. I think were also going to be focused on ballots in making sure that we have free and Fair Election and there is no hankypanky going on is of course we heard stories of that insane stories with the balance being thrown away. James freeman is a tough election to call. Not that its easy to. Winners and losers and any time youve got so any states with these. Dramatic changes in the way that people vote and when you have this kind of Audit Campaign where essentially both parties are relying on donald trump to drive turnout. I think this is no my lifetime we have candidate leading in the polls was trying to chronically have a problem through the primaries and the general election with inspiring and motivating exciting voters. It is odd. Maybe whether you love or hate trump, that is enough to get you to the polls. Duf im always reminded to that famous lineman people asked me with the Election Results are going to be. Like by yogi, reluctant to make predictions especially about the future. So block to figure out what will happen especially after the surprise that we saw in 2016. So the title of the book is the costtrump, china and american revival. James, can you tell us how you came up with that title. James freeman is actually marias idea. To just focus on things you can measure about donald trump, there are so any things that cannot be measured. I think he obviously inspires very tense emotions both in his supporters and his opponents. But when you focus on thank you can measure, you tend to focus on really the essential premise of this candidacy in the presidency which was economically for the revival of prosperity for American Workers and also relates to things you can measure when we talked about the collision. The dominated so much of his presidency. You cant really understand his presidency without understanding that resistant he faced. Not have to do things that not only cannot really really be measured but in the end, turn out to be nothing at all in terms of a dossier of accusations against him which ultimately was proven to be false. Maria bartiromo and i think there is a cost to all of this and that is why we looked at what would happen if we were to see a reversal. There is a cost to one doing the tax legislation. There is a cost putting lots of regulations on the economy after President Trump has all deregulatory programs. There is a cost to turning the investigative intelligence agencies of the United States government against the sitting president. Not only did what james just referred to as the collision story, not only did that divert resources away from other things that were really needed in government. But it also when theres a cost our trust in government today. Right now there are any people who say, i dont trust the fbi. I dont trust the cia. We cannot have that in america. There is a cost to all of that. And there was a cost to diverting all of the energies at the time of our investigative intelligence apparatus of the u. S. Government instead of focusing on for example, china eating our lunch. And stealing intellectual property and forcing a transfer of technology. We had our intelligence agencies looking for collusion. Which we known no was a made up story. So there is a cost to what takes place in the greatest country in the world. There is a cost to the policies that create economic progress in Economic Prosperity in america and its impact of the rest of the world. Duf what i thank you so very interesting about this book is so any people are caught up in Donald Trumps personality. And you i think accurately state that a lot of times, his conduct has been worse. But americans who often does focus on the personality does not focus enough on the policies. For example, resident obama very well liked by a lot of people. A lot of us are very proud to be the first africanamerican president. But if you talk with people today about whether its on the left or right, there is some real doubts about the importance of his legacy. And i think the battle of this book is really the focus on that legacy. And i think it does get lost. And i think there is no greater example of that and what is going on in the middle east today. I was wondering if you could address that. Maria bartiromo for sure. President trump made it a priority to try to create peace among nations in the middle east. This is a priority that he has had a relationships and charm and constant negotiations to go to the middle east and talk with allies and to try to normalize relations of the fact that you are sing the united arab say they will normalize relations with israel and then now the latest in sudan. Thats an incredible story for somewhere ever. Such a thing decades. And i think this is something that gets underestimated because the media constantly talks about his personality. If were just a little about i dont love the tweeting mores personality is not my cup of tea. It might be okay but the media has gone to such extremes to really ignore any successes that this president has had in his focus on these pet peeves that they have about him in terms of his personality. You never hear any stories the media about middle eastern peace. You never hear the fact that income inequality actually began to narrow at the beginning of this year with earnings on the bottom end of the scale going up. These are real successes that are measurable and in plain sight and yet the media refuses to talk about them. I think there is a cost of that as well. And instead it is a sad state of affairs frankly. Duf i think the middle eastern experience is a great example of this kind of i guess they call it the style versus the question where barack obama, you have what i think we would all say very statements like presentation, very much applauded by the experts around the world. The International Diplomatic community. The press. He is a look and feel of Serious Business as he did his agreement with iranians. Will beneath the surface, it ended up being lots of cash sent over to them who who then did not stop there funding of terrorism. You look at donald trump in the style is unconventional. Maybe a lot of people do not expect much. And here we have an amazing turn of events with countries that for decades and hostile to israel. Now coming to an agreement. I think if the Political Science didnt hate donald trump, they would probably be marveling right now and how he somehow managed to create leverage the most out of nothing. By the sort of threat amending station which im not sure that israel had any intention of doing but it was enough to persuade or allow these arab leaders than to seize the moment. An offer peace and commercial partnership. It is stunning to me that these sort of Game Changing agreements in the middle east are footnotes while as maria said, will probably hear on the news tonight about some offhand comment or tweet that will be forgotten in the week but is treated at the moment with very significant. Maria bartiromo that is no ball prize worthy. It really is. Duf so any residents have held that in the past. Think that is exactly right. As were having this discussion, listeners are submitting questions which im going to try to include in the discussion. Theres been a lot of interest in this issue we are discussing and some of our listeners are asking, what you think applications are for economic policies and opportunities Going Forward. But this deal allows. Do you have any insight that either james or maria. James freeman just as a threshold question, the upside is enormous. More conflict is costly and instructive. And is not enable Economic Growth. Here we have this suddenly new opportunity all of that region. I think the skies the limit. This is one of those issues really happened, who really should say this is not covered in the book because it happened afterwards. But i think it is similar to what we cover the book. When there is the start a surface level treatment of donald trump is a sort of a button. And then you look below at the achievements and they are remarkable. Maria was talking about the job market. According to the governments jokes report, regular report banana job opening, really the best job market ever is always the government has been keeping statistics in terms of number of openings. We actually ended up several times in the era ascending records. Having that number be higher than the number of people which was new in the United States. It is exciting. Economic opportunities in the middle east at the car boundless. Maria bartiromo and i think that peace begets peace because of Economic Growth. When you have people feeling better and more secure, and saying potential for Economic Growth and potential for prosperity for their own families, that creates peace. And wouldnt it be nice to see the United States create an ally group of countries that are actually together saying we will not accept terrorism. We will not accept more than instruction. This is all these things start by saying alliances the way that you are seeing parties also done that against chinas bad behavior. He is absolutely on the arguments that are pushed back against the human rights abuses and against spying out of the countries. Thirty countries at this time have now been banning while way. President trump lead that in in creating alliance because that behavior. I think that partnerships and middle east will also be mistreating an alliance against bad behavior and terrorists. To them are also getting a lot of questions, and our listeners are very interested in Foreign Policy because of getting a lot of questions about china as well. Maria, you just touch on some of the things that youve done in the past. And you discussed at great length how he got to this position. What is your viewing james feel as to what we should be doing Going Forward and ask for ten years. In terms of our relationship with china in general and also specifically economically. Maria bartiromo i think now it has become paul understood and china has broken promises and broken the rules on a global scale. The Chinese Communist party is the villain. It is not about the chinese people. This about the ppe. Which has been stealing intellectual property for decades which has been forcing transfer of technology and acquiring companies all over the world. And just stealing their technology. With one goal, to create a different world. Have a china is the largest superpower, the most dominant and militarily in any start figure that out in your talking about a communist country wants to rule the world. They want to be the number one superpower. Theyre not doing it through innovation or hard work. Theyre doing it through theft. And even during three to have your period of backandforth between the u. S. And china tried to do a trade to deal. Chinese communist party would never admit to intellectual property theft. Meanwhile, we have spoken with any ceos that have actually put a number on it. The former ceo of microsoft to said the 10 billion a year should be microsofts profits and instead, is going to the communist party because 90 percent of the companies in china are using the microsoft operating system but only 1 percent are paying for it. Then another great story about motorola in the books whereas one employee was working at motorola friend decade is actually stopped at the airport, she had one week to get out of the u. S. China and she was caught holding all of these trade secrets. In the directions for patents the motorola had. This is been going on for decades. Because he was leadership has wanted to open up access to china, we have wanted to have a partnership with china, the two largest economies under the expectation the maybe china would change is a democracy and say well, maybe we will live to the middle. We want to be able to open up the economy so we can have a fair relationship. That has not happened. Actually, the opposite way when Chinese Communist party has become even more inward. And even darker. And as a result the president has put consequences in place saying the tariffs from chinas bad behavior. In a few sticks coronavirus is an opportunity to invade other countries did invading killing 20 soldiers there militarizing south trinity and moving into hong kong with him laws and regulations. Brick and even more promises. So i think at this point, is become much more wellknown in terms of the Chinese Communist party school and how it wants to unseat american President Trump has been the first president certainly that ive ever seen or learned about is actually put consequences in place and pushed back on china said no, were not going to allow this cpp to spy on americans. Still our technology ncs. As the largest superpower in the world. Duf we understand in the book, then the tariffs has cost. Theres no question about it. In our hope is that the president pursues the meeting seeking zero terms in other countries. If you want keep the pressure on china. Because this is friction. It is that they cost. But we go through the history. We did give him a lot of credit for pointing out that the premises of our engagement with the communist china, really is not proven out for any years. The United States has been welcoming china into our Training System in our Capital Markets etc. On the premise that they are reforming. If you go back to the First Bush Administration after, why was there not more of aggressive response from the United States. It was because george w. Bush believed that democracy was rising there. We didnt want to disrupt what seemed to be a very hopeful moment. I think thats a fair characterization of his views. But now, more than three decades later, i think you have to say, not reforming. Is actually crushing democracy in hong kong. As we speak. Just this week, a number of the students, young people who participated in democracy rallies over the last months are being rounded up by one of the just across the street from the u. S. Council to believe where were going to seek asylum. I think it is been a healthy rule for the president to make even it is funny, people think of him as having a populist view. But i have to tell you that alone globally latest that i talked to think he deserves credit for bringing honesty to this discussion. And whether it has people we talked to in new york or text ceos in silicon valley, think a lot of them will speak very favorably being in business with china on the record and then off the record they were tell you about the intellectual property theft in these other issues. And i think we can all debate what is the right response. What is the tariff tool, going work. The right way to go or are there other tools better. I think recognizing the problem which has been largely ignored for a very long time, maria writes in the book about how when she was at a business coverage for years as cnbc, the story was all about that you gotta be in china. In tap into this Enormous Growth potential. As if there were no downside. That was sort of the attitude i think a lot of companies. And its the Worlds Largest car market now is big and so any big categories. I think w