00:00Well, let's talk to Fred Teng, the president of the America-China Public Affairs Institute.
00:05Fred, welcome. Good to see you. Let's talk about TikTok then.
00:08How significant is this framework development and what might we expect next?
00:16Well, I think developing the framework is very important.
00:19It's about time that the China side actually spoke up on in terms of what they consider important issues.
00:26It seems like a transaction will happen that TikTok will be sold to an American investor.
00:35But, you know, TikTok itself already had a lot of international investors.
00:40So this is not really a totally China-owned company, but it's a China-invested, meaning Chinese investor company.
00:48But beyond just one example, I mean, China describing the talks as candid, a mutual respect and the need for coexistence.
00:58U.S. Secretary Besant talking about deep respect between the delegations, both sides calling the talks productive.
01:05Do you see this as genuine progress or is it more of a diplomatic exercise?
01:11I think China has assembled a very professional team, starting from Stockholm with Vice Premier Holly Fung and then also Vice Minister Li Tenggong.
01:27And last time was Wang Wintou and this time is Wang Jintao.
01:31They really know their issues and I think they're presenting these issues to the American side with no fanfare, with no, you know, press headlines, but really trying to get the work done.
01:49And I think China side is very diligently communicating what is China's interests and what China feels it's important to them.
01:58The U.S. delegation highlighted cooperation on money laundering, but they seem to draw a line on separating it from the arguments around fentanyl.
02:10What might that suggest about where cooperation is possible and where clearly the gaps between the two countries remain?
02:19Well, I think money laundering and fentanyl are both important issues, but by putting it together, it's kind of difficult to deal with.
02:32Fentanyl in itself, we have to know what the U.S. accused China of.
02:37They are selling, China is selling certain precursors and some drug dealers in Mexico somehow get hold of it and then make it into fentanyl and sell it to the United States.
02:48Certainly, the United States have a fentanyl issue, the United States have a heroin issue, the United States have a marijuana issue, as well as a meth issue.
03:00But these are the drug issues that the users are being used.
03:05The precursors that China sold all over the world have multiple industrial use.
03:10So to accuse China of selling that to the United States that somehow China is responsible for is like accusing a French company, a British company or Italian company selling liquors to the United States and somebody have drunk driving and kill someone.
03:26Or Japan or Japan or Mexico selling steel to the United States and company make guns and shooting people.
03:33This is very, very far-fetched.
03:35But I think China is trying to cooperate with the United States.
03:38They understand this is a very important issue to the United States and they're trying to cooperate with it.
03:44Money laundering is another way.
03:46Mr. Greer suggested the United States is open to extending the tariff pause if these talks remain positive.
03:53And there's even this planned Xi-Trump phone call on Friday being discussed.
03:59Do you think this marks something of a turning point towards a more stable China-U.S. relationship?
04:05I think this is a very great improvement.
04:11I think the trade talks will continue for a long time, but the extension will be extended.
04:18And certainly the two leaders in terms of talking to each other over the phone or meeting in person is very helpful to the relationship of both countries.
04:29Fred Teng, good to see you and thank you for your time.
04:31Fred Teng, President of the America-China Public Affairs Institute.
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