This is CBS, I on the World.

Gordon Chang's here.

I'm John Batson.

We go to our colleague Ann Stevenson Yang, whose new book, Wild Ride, tells the story of the rise and fall of the Chinese miracle these last decades.

We're now plunging into fresh territory, and we welcome and to comment on one,

Xi Jinping announces that he is traveling overseas for the first time in 2025.

Significantly, he's stopping in Vietnam, Cambodia, and Malaysia,

three states that have been alerted by the Secretary of Commerce, Mr. Lutnik,

to please cease the transshipment of Japanese goods as if they're not coming, Chinese goods,

as if they're not coming from China. I tell you, Anne, another anecdote that I have these last

days since the Liberation Day.

Phone calls to a colleague of mine who has business in the Pearl River Basin, he has a factory there,

that their neighborhoods, small manufacturers, electronics, you know it well,

told him the first night of Liberation Day and repeated last week that they have no business,

their order books are blank. They cannot survive these tariffs, not even for a little bit.

They're done. Now, that's an anecdote. Those things, do they add up to anything? Did they tell

us where we're going, Ann? Good day to you.

Good day, John and Gordon.

This is a really interesting portion of this, and I think misunderstood or underinterpreted,

which is the network effects associated with the tariffs. So, you can, you know, Xi Jinping is making a diplomatic initiative

throughout the world to Asia and Europe as well and trying to redirect a lot of Chinese

exports. And, you know, maybe he'll be successful with with 15 or 20 percent of them,

...