Kevin O'Leary: We need to Delist Xpeng, Nio, and Alibaba

long way from runaway inflation that's

and that's a

fear that a lot of folks have is that we

might see that kind of hyperinflation

that we're going to

that that essentially the country is

debasing the dollar

and and that we can't trust the dollar

anymore and that's maybe why you see a

run into crypto currencies

is that not something that you believe

that the dollar could could lose its

value or potentially even collapse or

lose its status as uh the world's uh you

know reserve currency

well there's some speculation you saw a

lot of pundits talking about this this

week that china was really trying to

promote cryptocurrencies as a way

to getting out of under the matter the

dollar because the truth is the chinese

economy is based on the us dollar in the

sense that everything outside of their

economy settles in usd

nobody wants to take the chinese one and

hold that long term they have no idea

what the policy makers are going to do

with it

so if you want to do business out of

hong kong or out of china you ask to

settle in us dollars

and that's really what the chinese are

frustrated about what they prefer to see

is a cryptocurrency

perhaps one they bring on them on

themselves uh which i would never take

into custody because the chinese could

simply turn it off if they

weren't happy with you or something you

said about them or bitcoin

and that's why bitcoin is at a new high

today um no government controls it

but it does have its own issues emerging

now so we've got a very interesting time

going on here we're basically

and i think the best way to put it in an

economic war with china china

doesn't play by the rules doesn't give

us access to their courts does not give

us access to the middle class they use

american courts to litigate their own ip

domestically

and sell tons of products into the

largest economy on the earth currently

which is the us economy

and until that playing field is leveled

we're going to have tremendous tension

with that regime

this morning came out and said that they

want to play nice with biden in so many

words

it sounds like you don't believe them no

i don't

i just look at the last 10

administrations and how crafty they are

in making nice sounding nice and then

keeping everything the same as before

the only thing the chinese understand

and respect

is the stick that's what they understand

and so you can look and back for the

last

five administrations and realize until

the last one where they really put the

pressure on them

nothing was changing the idea that you

can form a cohort

of american and european economies to

work together

to bring the chinese a bit to bay is not

going to happen because

in europe basically 25 of most of those

economies

is tied to china so while they'll give

lip service they don't want in any way

take their relationship with a quarter

of their gdp

that's why it never worked the only time

now is to go

hard core against china and say look we

understand we're in a competition

we understand the left the living you

know the

the playing field is not level so let's

let's level it and the way to level it

is to say let's

let's make it level right now what would

that mean delist all the chinese stocks

do not give them access to our courts we

don't get access to their courts

make it the same for both then build it

back up when the chinese feel the

pressure of that stick

they'll understand they have to somehow

raise the bar

now that sounds torturous and difficult

but it has to be done it has to be done

it makes no sense to me that an american

manufacturer

has to give up their ip basically have

it stolen that hasn't changed

you've heard a lot about it from the

last administration but it's the same

the chinese people are not at fault it's

the

policy of the chinese government that is

causing these tensions

and it's really time to address it now

now is the time because if they become

bigger which they will in the next 20

years

you won't have that leverage anymore

remember the stick

is what they appreciate the stick is

what they want the stick is what will

work

the stick is what they want i mean the

stick is generally associated with

sanctions i

i don't believe that china wants

sanctions but it sounds like that's what

you're advocating

no i'm beyond sanctions i want to take

them right out of the financial system

in north america they don't get access

to it

it's that so alibaba neo expand

d-list sure you know the economy the

economy is so

large and there's so many other places

to deploy capital

in those markets it'll find a way or if

you insist you can simply go buy those

shares

on the hong kong exchange or whatever

exchange it is but it'll make it much

harder for compliant institutions in the

us to do business with them

and also you know frankly that stick

will really put some pressure on them to

solve the problem

my assumption is you have a few rough

quarters when you do this you implement

it

but then we get to what we want a really

collateral discussion with them about

leveling the playing field

america can compete china can compete

just level the playing field and let the

competition begin

but don't keep it in this unbalanced

football field where it's so unfair

for other economies that don't get

access to the chinese economy if they

want to play with the big boys

they've got to play with a level playing

field and if it takes a little pressure

to get them there

that's okay the stick works