00:00Taiwan will not be the only major item on the agenda.
00:03The two leaders are also expected to discuss Iran
00:06as wider regional tensions continue to rattle global markets and energy supplies.
00:12Philip Luck, director of the economics program at the Center for Strategic and International Studies,
00:17says the conflict has increased the importance of cooperation between the world's two largest economies.
00:24So obviously the war in Iran will be probably a large portion of the conversation
00:28just because it's a huge monkey wrench in the global economy.
00:34And again, China has a huge role to play in sort of potentially swaying Iran
00:39in ways that we simply don't because we don't have the economic leverage over Iran
00:43that we do because of the sanctions on Iran.
00:47I would say that, you know, again, Iranian exports of oil to China are obviously important.
00:55But oil markets in some sense, you know, oil is a commodity.
00:58Oil goes to the highest bidder.
01:01So in some sense, if China is willing to pay for higher prices of oil from other parties,
01:06they'll be insulated from this.
01:08In addition to that, you know, China has built up massive stores of oil.
01:13So they are among other parties.
01:15They're one of the more insulated to this type of shock than anybody else.
01:19These are the ones in spot to find the meme,...
01:21they're some pets that have banks were not to touch with you.
01:21This is the one of our customers, but it's not.
01:23So there are many other parties in all of us...
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