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For a variety of reasons, we are not producing at a given level of economic activity the jobs we used to have.

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.

Over two billion people in China and India need commodities to grow their economies and improve their living standards.

China also has moved away from its original status of purely producing basic, what you call, consumer commodities and Chinese companies are moving beyond China to various parts of the world.

China cannot pull in the best and brightest from all over the world. It's an ethnically defined nation, the opposite of an immigrant nation. You don't see a lot of American engineers trying to be Chinese citizens.

There are now hundreds of thousands of new engineers that are being trained in China. If people start finding themselves losing their jobs, not to the Chinese here but because China has become such a dominant force - then there could very well be a backlash.

Now listen, the one thing about agriculture is we've lost our manufacturing, we've lost a great deal of jobs overseas, lots of our industry. The last thing in the world we need to do is lose the ability to produce our food.

So we really need jobs now. We have to take jobs away from other countries because other countries are taking our jobs. There is practically not a country that does business with the United States that isn't making - let's call it a very big profit. I mean China is going to make $300 billion on us at least this year.

All the companies I've worked for have this deep problem of devolving to something like the hunting and gathering cultures of 100,000 years ago. If businesses could find a way to invent 'agriculture,' we could put the world back together and all would prosper.

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.