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You'll notice president bush did not offer him a state dinner. i don't understand the thinking behind the president obama. >> bill: i tell you why, because they found a $45 billion export deal which is going to lead to 235,000 jobs in the u.s.a.. >> first of all the chinese pop up and buy american goods. they timed this, think about this. i gave you the numbers, $334 billion of imports and purchases that will take years and years to make represent 20% of our deficit with china last year. when they get american dollars they have to buy something with them and why not take those dollars and recy...

Airplanes to corn, wheat, soybeans, ethanol plants, ethanol deals. i want to show you how that stacks up with the trade imbalance that we have. the united states from january to november last year exported $81 billion worth of goods to china. we imported $334 billion in goods from china. you can see how dramatic that imbalance is. so throw those $45 billion on to the export pile and you can see, add it up, you still don't get anywhere close. >> you should have thrown the pandas. >> you can't put a price tag on pandas. >> is it -- is the bar, i guess, in the perfect world it's supposed to be eq...

United states. now, you will notice president bush did not offer him a state dinner. frankly, i'm a little -- i don't understand the thinking behind the president obama giving president hu jintao a state dinner. >> bill: i will tell you why. they signed a 45 billion-dollar export deal. >> no, no, no. >> bill: going to lead to 235 jobs in the u.s.a. that's why he gave him a state dinner. >> first of all, the chinese -- the chinese periodically pop up and buy american goods. they timed, this look, think about. this i gave you the numbers earlier. $334 billion of imports from china and $2 billion...

Strategic competitor of the united states. now, you will notice president bush did not offer him a state dinner. frankly, i'm a little -- i don't understand the thinking behind the president obama giving president hu jintao a state dinner. >> bill: i will tell you why. they signed a 45 billion-dollar export deal. >> no, no, no. >> bill: going to lead to 235 jobs in the u.s.a. that's why he gave him a state dinner. >> first of all, the chinese -- the chinese periodically pop up and buy american goods. they timed, this look, think about. this i gave you the numbers earlier. $334 billion of impor...

That if value was allowed to float it would be a higher value. why does that matter? the higher the value of the chinese currency, the less attractive their exports are. take last year, between january and november of last year, the united states imported $334 billion worth of goods from china and exported $82 billion worth of goods here is the dollar, the value up here. value of the chinese currency. if it was allowed to float and its value came up, then it would make some of those exports from china and the u.s. less attractive for us to buy and would make it more attractive for them to buy ...