Nicholas Burns, former US ambassador to China, discusses the intricacies of US-China relations, emphasizing China's commitment to its 'Made in China 2025' campaign despite global criticism. He highlights the importance of understanding the divide between the Chinese government and its people. The conversation delves into how geopolitical strategies are evolving in East Asia and the complexities surrounding U.S. global alliances, particularly in light of rising tensions with China and Russia.
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insights INSIGHT
Opacity of Chinese Leadership
China's government remains opaque and secretive, making it hard to fully understand their motivations.
Despite frequent contact with leadership, transparency about their private motives is limited.
insights INSIGHT
China’s Strategic Global Position
China must maintain global trade ties despite strategic partnership with Russia and others aiming to offset US alliances.
US alliances with Japan, South Korea, and others provide a strategic advantage over China’s partnership bloc.
insights INSIGHT
US Alliance Weaknesses Exploited
China seeks to exploit US alliance weakening, especially amid tariff tensions and USAID reductions.
The US risks losing global influence if it diminishes faith in alliances and foreign aid capabilities.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 27th, 2025 Featuring: 1) Steve Chiavarone, Senior Portfolio Manager at Federated Hermes, talks about why he remains constructive on the US economy and the potential for a cyclical recovery in the US. The dollar bounced back, and equity-index futures for the S&P 500 and Nasdaq 100 jumped more than 1%, as President Donald Trump extended a deadline on implementing aggressive Euro-area tariffs. 2) Nicholas Burns, former US ambassador to China, joins for an extended discussion on US-China relations and where they stand in a second Trump administration. The plans for a new version of China's "Made in China 2025" campaign indicate that China will largely stick to its strategy of prioritizing manufacturing, despite criticism from the US and Europe, and will focus on developing core technologies such as semiconductors and new energy materials. 3) Jane Foley, Head of FX Strategy at RaboBank, talks about dollar weakness and the yen carry trade amid noise coming out of the Japanese bond market. Tong-term government bonds yields in Europe and Asia also fell, while the yen and other currencies declined, as investors reacted to the news from Japan. Japan’s 20-year bond yield slid as much as 21 basis points after Bloomberg News reported the nation’s finance ministry asked market participants for their views on the appropriate amount of government debt issuance. 4) Henrietta Treyz, co-founder at Veda Partners, joins to discuss the trade deals likely not to materialize for President Trump's administration, and what types of tariff rates the US could expect this summer 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Business Insider story on bringing plus-ones on work trips and a WSJ story on the skyrocketing cost of a Hamptons girls weekend trip.
Bloomberg Surveillance