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Squawk Pod

Squawk Pod Reports from Davos: Blackstone’s Steve Schwarzman 01/18/23

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2543 Ratings

🗓️ 18 January 2023

⏱️ 17 minutes

🧾️ Download transcript

Summary

In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are at the World Economic Forum in Davos, Switzerland, where they’re speaking with Blackstone CEO Steve Schwarzman. A billionaire businessman, GOP donor, and China optimist, Schwarzman discusses what the end of China’s zero-covid policy means for its economic recovery and the global supply chain. Plus, after three years of lockdowns, Chinese leaders are convening with the rest of the world’s leaders at this year’s WEF; Schwarzman offers his perspective on how the Chinese view the U.S., and how domestic issues factor into each country’s respective geopolitics. In this episode: Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0

China has reversed most of the policies that they put in over the previous two to three years,

0:12.0

which were really slowing their economy and

0:14.8

creating a variety of other issues. Blackstone CEO and co-founder Steve

0:20.0

Schwarzman at the World Economic Forum in Davos, Switzerland. He's talking China and the

0:26.0

global economic landscape.

0:28.5

The supply chain normalization, which for three years has really been plaguing the global

0:35.6

economy should be normalized relatively quickly. The road ahead and the surge of

0:41.6

COVID still underway in China with the American businessman, billionaire,

0:46.8

GOP donor, and longtime China optimist.

0:51.0

When one of these waves of a pandemic comes in, we saw this in India, it's basically

0:56.3

a three to four month start to finish type of thing. I think we'll have a similar

1:01.2

outcome with China.

1:02.9

China's leaders, Wall Street's leaders, oh,

1:05.9

and we're there too.

1:07.2

How the US talks about China and how Schwarzman says

1:11.3

China talks about the US.

1:13.6

Some of the criticism of Uyghurs, other human rights,

1:17.4

are they sensitive to that?

1:18.7

I think what they typically say

1:21.9

is this is an internal issue in our country. We don't comment on the

1:27.2

internal issues in your country. I'm C. NBC producer Cameron Costa.

1:33.0

Squawkpad reports from Davos, Switzerland.

...

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