you look at michigan there, three states the president won last time, he's got some work to do. maybe the president decided we push, we pushed, we pushed, now it's time to cut a deal. >> this is the first president who approached china through the lens of the reelection possibility. look, americans have a habit of wanting something from china and not getting it. george bush tried to push china on things like property theft, but north korea is more important, iran is more important. obama wanted changes in behavior from the chinese but climate change was more important. so with this president, what the chinese have sensed just like his predecessors, there were things he wanted more than fundamental change. he wants a higher dow, he wants farmers selling more soybeans, he wants to get reelected and he wants those college votes and those states that matter to him. that means that sometimes the chinese who began from a point of very little leverage now have a lot more leverage than they thought. the very fact, i think, the