Morgan Ortagus: China Is ‘Nipping at Our Heels’ and the ‘Only Nominal Thing Left Is GDP’

EXCERPT:

KILMEADE: "President Trump taking on China for trade practices. You know that. His administration now considering more than doubling proposed tariffs on Chinese goods up to 25 percent. Things like hand bags and food. So what should we know about China’s economy? Today on the final day of our series China friend or foe we focused on the country’s economic threat to the U.S.. Here to break it down is former State Department press officer Morgan Ortagus who is still active in the military."
ORTAGUS: "Good morning."
KILMEADE: "Good morning, great to see you."
ORTAGUS: "Yes, sir, in the Navy."
KILMEADE: "So you also believe that China has overtaken us, even though the numbers say we are still leading."
ORTAGUS: "So if you look at nominal GDP China is the second largest economy in the world. however if you look at purchasing power they are the largest economy. If you look at they are the largest manufacturer in the world. They are the largest exporter of goods in the world. So they are nipping at our heels and the only, you know, nominal thing left is GDP."
KILMEADE: "So we understand even today, this story is moving, tariffs increase. President is considering putting tariffs on fish, petroleum, chemicals, hand bags up to $250 million. Why do you think is he doing it and what from what your numbers say does he need to do? 
ORTAGUS: "I think what President Trump is doing with China and I have said in this week, Brian, is the most important thing he will do in his presidency. President Obama was right to talk about pivoting to Asia. Unfortunately we never did. And so what we have done over the past 20 to 30 years is watch China rise, and we somewhat ignored it, we continued to let them steal our IP through theft and to -- this is -- countering them, getting fair trade, dealing with them on IP, and making a level playing field in the world is the most important thing that this president will do."