commerce secretary gina raimondo. >> after all of her prep work, raimondo will be at the summit which starts today. she is a rising star in the biden administration. she is on "time" magazine's 100 most influential people list, and is "the wall street journal" said, everyone wants to talk to gina raimondo, even china. well, i have also been speaking to her. here is our conversation. >> secretary raimondo, welcome to the program. >> thank you. >> so i said, as everybody knows, that the world is in a total war footing right now, from the middle east, to russia/ukraine, so i want to know from you, ahead of this meeting between the two presidents, should we be prepared and buck ling in for war in taiwan? >> i don't think so. i don't think so. first of all, thank you for having me. as you say, we are in turmoil all around the world, and i will tell you, at least once a week, when i'm, you know, with the president, and watching him with world leaders, i feel so grateful that he is the man in charge of our country right now. he has the right temperament and experience and i was in china rece

all you have to do is watch commerce secretary gina raimondo's interview with cnn's christiane amanpourina said, it's time to lower the temperature in the relationship. speaks to what you just said, phil. it was hot, now it will get cool. the problem is that the goal, in my view at least, the goal of u.s./china relations is not to have a low temperature, it's not to get along. the point is to protect u.s. values and interests and work with our partners to respond to the threats and challenges that china presents as it rises where they affect us. so, for the first two years of the biden administration, i think you had this really competitive policy led by people like tony blinken and jake sullivan, which is we'll solve some of these problems as being tough with chinese, not as rude as obnoxious as the trump people. still tough. year three, political cycle and now the ball has been handed to the economic officials which is what the chinese want and now you have janet yellen and gina raimondo saying, listen, we have to turn down the temperature. so, yeah, they will turn down the temperatur

maria: meanwhile gina raimondo u.s.s of the top china advisor kirk campbell also attended the dinner, your reaction. i like when xi jinping says china never bet against america, that is not true. >> a gina raimondo said thank you, president she for your collaboration and coordination with regard to affected all so to thank this man is so insane, that's why xi jinping is here he is here to sit with the ceos and keep the money flowing of the technology flowing and the economic relationship going he does not need anything from biden but the introduction getting into the room that's what matters at the u.s. does not want us to execute a containment strategy while we saw the time to do so and he needs a red carpet so he can go and continue to have access to the u.s. market that is why he is here and if we give him that he will regret it. if we pay a high price in history for the wrong summitry in the tragedy of san francisco is giving them a platform to speak to the business leaders and continue to take our country down a pa

gina raimondo is one of the most important secretary cabinets, after blinken set the table, and johnerry, about to have the climate summit in dubai. and without agreeing on doing something about reducing, you know, the emissions, the two superpowers, there's very little that the rest of the world will be able to achieve. president xi did not go to the g20 in new delhi. so that was a lost opportunity to meet on the margins, and here they are meeting at the nascar begins of apec. interestingly, chris, it was initially thought that this meeting would come at the end of the apec meeting, perhaps on saturday. it was moved up in part because there was anticipation that there could be a government shutdown this week, at which point, the whole american team would not be able to travel and function. of course, the air force one could get home, but there were a lot of things that could not happen during a government shutdown. the president would have been distracted. that has been diverted. the house has gone home and passed the legislation, but the meeting was moved up to the beginnings of th

from coast-to-coast we saw allegations china has been hacking the emails of commerce secretary gina raimondoeven as recently as a few weeks ago, washington making moves to severely tamp down on exports of sophisticated chips needed to make advanced technologies to china. those are personal issues between the china and the u.s., but you take a look at global context as well, we've got the continued invasion by russia into ukraine, we got hamas' attack on israel, both of which beijing has refused to condemn, instead having policy leaving it more open to strategic partnerships with the global south, for example, so a lot to talk about from both sides here. caitriona: are we likely to see the beginning of a breakthrough in the u.s.-china relationship? helena: i think expectations are pretty low right now. it is more talking, once again, when it comes to the military front, the army can talk to each other if there is an altercation over the south china sea. we seem close calls between both u.s. and chinese aircraft of late. there's collaboration when it comes to ai, the bank topic right now, chin

now, secretary gina raimondo testify on investment on the chips and science act before the senate science committee. they focus on

gina raimondo said she told chinese leaders what she hears time and again from businesses is that chinaore un-investable. xi jinping says he doesn't want to see china in a hot or cold war. it remains to be seen whether this will assuage concerns. ed: president biden was asked a specific question about whether he viewed xi jinping as a dictator. annmarie: he said it before, he said it yesterday and probably will say it again especially in november, 2024. he said xi jinping is a dictator. it's a different system in china. this comment came after he fielded a number of questions, then he took ad hoc questions. the main take away from the white house is biden will not back away. especially as the rhetoric gets heated. they feel this was a deliverable way these individuals met. biden wants to pick up the phone in a time of conflict. ed: what's left on the agenda? annmarie: biden will be addressing ceos. there will be a family photo. this evening, he will be looking forward to the ipath, this water down trade deal, the indo pacific economic framework. potential pushback they will see because

over the summer gina raimondo said time and again that china is on investable. she said this to chinese leaders and xi jinping struck a dovish tone. i think he is trying to assuage concerns. alix: china direct investment has taken a humongous hit. enda, did anything the last 24 hours help change that decline? enda: it was a consolatory message but there were a couple of things with the china investment story. on the portfolio side money is pouring out. that is because of the yield differential. that speech last night in san francisco is not going to change the money flowing into china's stockton bond market. on the other side of things, that is where there is negative sentiment because even though china leadership reaches they are open for business there has been very strict regulatory crackdowns on core industries. we had raids on foreign business in china this year. all of you roads confidence. of course, this message is coming from the top, but given the sentiment indicators coming out of the chambers of commerce in china the last year, i think there would be

they had the commerce secretary, gina raimondo there. now they are going to begin to have the military talk again. they feel a need to show that they are re-engaging. i think bigger question is, has this just bought some time and that after their economy is recovered, are we, you know, back in contentious issues on taiwan, on the south china sea, on technology. i think one of the most hopeful things may be if they discuss a bit, and they are inch bing tha way, the increase in nuclear ars analysis and artificial intelligence. we didn't see much as there, but there is at least a channel opening up. >> yeah, you flagged that yesterday. they seem to allude to it yesterday without a lot of detail which i guess is understandable. we will wait for your reporting on it. david, thank you. >> great to see you guys. >>> in gaza we continue to see death that is according to the u.n. humanitarian agency on wednesday. the u.n. security council adopted a resolution calling for a series of humanitarian pauses in gaza. we should note the united states, u

. >> [ applause ] >>> commerce secretary gina raimondo gave an update on the enactment of the chips and science act. one full year after it was signed into law, the legislation was passed to provide funding for domestic research and manufacturing of semiconductors in the u.s. in her testimony the secretary discussed competition with china, workforce initiatives and the importance of education and training. is how science, space and technology hearing is about 2 1/2 hours.

a shortage of chips because of, of course, the export ban >> they ain't getting an nvidia chip gina raimondoas over there and got dissed immediately usual shenanigans. she's one of the people that knows what an h-200 is the government used to be very clueless chips, let's just block them no, not the large form factor, the so-called dumb chips, that's not what this is about >> she has been the most involved of anybody in the cabinet, the secretary of commerce, gina raimondo. >> i've not met a businessperson left or right who didn't think that she was maybe the most sophisticated person in government that we've ever dealt with when it comes to business >> yeah, and she's been at the forefront, obviously, the chips act but also these bans that we're talking about. we need to get her on here >> i have her on a lot >> you do? >> i'm always blown away by how good she is. >> you want to bring her on our show >> i think she would go toe-to-toe with nikesh arora >> we did have a downgrade of palo alto yesterday. >> take that >> b of a not confident it's a one-quarter phenomenon >> i thought that was

commerce secretary, gina raimondo on the high stakes upcoming biden/xi meeting.tamkin talks to meshl martin about her ses

you saw gina raimondo, secretary of commerce, janet yellen, what is the number one priority for the president in this meeting? >> reporter: it's really just about reestablishing the fact that the two countries, he believes, can work together, and when you look at all of those people you just mentioned, some of them were critical to laying the ground work to get to the point of where we are here today. it was secretary blinken, who, remember, was supposed to travel to china. that visit got scrapped in the wake of the spy balloon incident. he then went a few months later. so did secretary yellen, so did secretary raimondo. that is really because they believe that intensive diplomacy was necessary to allow for this meeting now to be here. but when you talk about the priority here, there is also something very clear when it comes to the u.s. perspective to all of this that heading into a 2024 election cycle like we are, this is something where president biden wants to project annen -- an image of strength, trying to demonstrate a willingness to be tough. you saw the president speaking to the rela

commerce secretary gina raimondo.e chinese medical instrument business good to see the industry represent fingerprinted there's a flaw in the china etf it's too overweight the financials. evan greenberg the brilliant boss of chubb introduced xi to the table. insurance stocks are cheap larry fink the ceo of blackrock and someone who knows china incredibly well sat at the table as did long-time china friend steve swartzman. larry, though, he can be the senior statesman and putative chiefar-bitter of how much vu investment will be directed to china. and how about having the co-ceo of an amazing private equity firm joseph bai of kkr how do you say best of show? visa ceo ryan mcnerney and mastercard's chairperson were both there the only two fintech plays the only two fintechs that i can recommend without reservation. filled with best of breeds if only it were a real etf we might even be willing to buy it. i'd probably pick it up for my charitable trust which would be i afirst for us. i like to say there's always a bull ma

development of artificial intelligence and how to balance that with innovation commerce secretary gina raimondoaunched the voluntary responsible ai protocol, with a group of start-up founders and investors. it focuses on organizational buy-in on responsible ai, things like transparency, risk, and benefit, forecasting, feedback 35 investors signed on, including general catalyst and bing capital but the initiative is also eliciting very strong emotions and employeeblowback from other community like mark andreessen who wrote, absolutely not. kind of a libertarian bent here. another investor and adviser responded on "x," quote, everyone should be thankful this mind-set did not prevail at the advent of the microprocessor, the database, the pc, the internet, mobile phones and so on at each step, there were those that championed caution over innovation and guys, that is really indicative of this broader polarization in venture capital and artificial intelligence that right now is arguing over how ai developed at the still-early stages, as the government is figuring out, as well. looking forward to tha

secretary gina raimondo has informed us that she only has two hours for this hearing. the ranking member and i are limiting ourselves to very brief opening statements and we are asking the secretary to do the same. additionally, to give as many members as possible a chance to ask questions. and in concurrence with the ranking member, i ask unanimous consent to limit each members q and a to four minutes without objection. i would also like to request unanimous consent to submit two statements for the record. the first is from chairman lucas, who cannot be with us today. as you know, he has had a terrible accident with a bowl. he is a rancher and he is recuperating. we look forward to his return. his leadership is dearly missed. the second is a full opening statement from myself. i will recognize myself for one minute for an opening statement. so i would say welcome to the science space and technology first oversight hearing for the chips for america program. secretary gina raimondo, we appreciate your willingness to testify today. thank you for being here. i understand

i haven't met anyone that says, i'm for the stock market, other than gina raimondo, and she's in favorh then helps workers. she's a constructive individual in a negativist white house. for capital. >> there is a report from our hugh son about citi today and a plan by frazier to, in his reporting, cut at least 10% at several divisions. >> they've got to figure out where the book value is going, and if the book value is phony, then the stock deserves to be at $42. the book value is substantially in excess. it's one of the great untold stories. the book value is well out of whack with the common, and the government should look at that. the government is uniquely focused on regionals after what happened. they're fighting the last war. i don't understand -- look, i think citi's fine. i don't think it's good or bad. i just don't understand if citi has all these great businesses and they have all this cash and the tangible book value is well above, what the heck is it doing at six times earnings? i don't understand that at all. if you look at the book value of goldman-sachs, pretty transparen

gina raimondo was in china, and we thought we had a deal, and they were hacking her office while she was there. these are sounds of bad will. but they could be completely bogus. but they're saying our president might make a deal with xi. >> what do we get? what do we get? >> boeing planes? i don't know. that's how we've always sold our nation out is boeing planes. hey, have some boeing planes, and let's steal everything. >> we're going to get to the impact on boeing if, in fact, this freeze gets thawed. >>> first, though, let's talk some diabetes drugs today. novo nordisk released data suggesting wegovy's benefits go way beyond weight loss. the studies show it cuts overall death by cardiovascular causes by some 20%. was it as impressive as you expected? >> deutsche bank says it threw cold water on the idea that medicare is going to pay. i completely disagree with that. i think that medicare looks at that 20% is a huge deal on heart attacks, but let's first suggest -- let me discussion that the american heart association was widely in the stock that they were going to do it because we

he wants to assuage the business community's concern about how gina raimondo said this summer that chinant to unseat the u.s. he does not want a war with anyone. he's trying to set the temperature at a lower level for the business community and i think they will mostly shrug off what president biden said as he walked out of the press conference. >> do we have any intel from those business leaders about how comforted they word that there was a changing tone toward international businesses doing business in china? >> not yet but i think it does not matter what they say. it will be actions. will we see foreign direct investment pickup? we see more business leaders and executives go to china and do business? so i think the next year or so we need to see the actions of whether or not xi jinping was able to placate those concerns but at the moment this felt like xi jinping's moment to address the business community and because he was so dovish in these comments it felt like he was trying to forge a path forward. we have talked about this. he's dealing with a lot of economic issues and a fragil

now, secretary gina raimondo testify on investment on the chips and science act before the senate science committee. they focus on critical mineral supply chains, the manufacturing of semi conductor chips, and rural broadband access area the hearing is about two hours and 40 minutes. >> good afternoon. the senate commerce committee will come to order. i think my colleagues, many have been in this room for many hours already today doing double duty today on both in aviation hearing and a very important conversation about the implementation about the chips and science act which our committee played a big role in. needless to say our committee has been very diligently on a lot of transformational policy. while we are waiting for our colleague here, i think i will thank senator wicker again for his work on the chips and science act. i don't know if people remember but i don't know how many events we have processed, i know it was in the hundreds. might have been the 300s. i definitely believe that that kind of regular order process was good for the institution, good for the debate about scienc

>>> commerce secretary gina raimondo gave an update on the enactment of the chips and science act. one full year after it was signed into law, the legislation was passed to provide funding for domestic research and manufacturing of semiconductors in the u.s. in her testimony the secretary discussed competition with china, workforce initiatives and the importance of education and training. is how science, space and technology hearing is about 2 1/2 hours. [background noises] [background noises] >> the committee will come to order. and without objection, the chair is authorized to declare recesses of the committee at any time. and before we begin, secretary raimondo has informed us she has only two hours available for this hearing. so in the interest of time, ranking member lofgren and i are limiting ourselves to very brief opening statements and we are asking the secretary to do the same. additionally, to give as many members as possible, a chance to ask questions and in concurrence with ranking member, i ask unanimous consent to limit each member's q&a to four minutes without objec