Veronique De Rugy

And in France, it's happening at a time of political instability.

Veronique de Rugy at George Mason University's Mercatus Center says ahead of presidential elections next year-

One guy is, is talking about erasing the debt and basically defaulting, and the other one wants to reverse the retirement age reform to basically allow French people to retire at 60, which was a source of the financial problem of the country.

All of this is making investors nervous, she says, and less inclined to buy French bonds.

I'm John Batchelor.

I welcome Veronique de Rugy of the Mercatus Center at George Mason University to solve as best I can the two terms of Donald Trump and trade, the first term and China, the second term and China.

Veronique, a very good evening to you.

The first term, the Trump's approach was to deal with China's aggression, even violation of all WTO rules to subsidize, to dump, to steal.