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Clearly, the Chinese need the resources, but I don't think they want to clash with the industrial world which happens to be the market for their goods.

In a couple of years, the Chinese will be seen as regular participants in international industry. Their companies have to report to shareholders as well as to the Chinese authorities. They need to make money, they have to be efficient.

If I really treated business like a businessman, I wouldn't have done what I have done - opposing China. No businessman in their right mind would do this because you know that there will be repercussions.

China is an area where we need to be present. Lots of companies want to supply their products to China.

As President Obama clearly said just a few months ago, China must play by the international rules, the international trading system from which they've benefited so much.

But I believe in fair trade, and I will tell you, I have many, many friends heading up corporations, and people that do just business in China, they say it's virtually impossible. It's very, very hard to come into China. And yet, we welcome them with open arms.

For years, China expected foreign companies not to publicly voice their complaints about hacking or intellectual-property violations in order to protect their broader interests in the country.

China is a government-oriented economy. No one can say he can run his business entirely without government connections. Anybody who says that he or she can do things alone... is a hypocrite.

China has always been very hospitable, but we can choose who enters our house. We could not allow any companies to enter China and make money while hurting the country.

So if you look back over the long history of China, they've never tried to take over the world, but they've been quite aggressive in their own neighborhood... in carrying out their own purposes and interests in their sphere of the world.