Transcript
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This episode was recorded at the 2025 DealBook Summit. This year's Dealbook Summit sponsors include premier sponsor Accenture, associate sponsors U.S. bank Vanguard.
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Invesco, QQQ and University of Michigan supporting.
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Sponsor Capital One and contributing sponsor Invest Puerto Rico.
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This is Andrew Osorkin with the New York Times. You're about to listen to some fascinating breakout conversations from our annual Dealbook Summit recorded on Dec in New York City. You'll hear experts, stakeholders and leaders discuss vital topics that are shaping the business world and the world at large.
A (0:44)
Well folks, welcome. The world is being transformed. Fareed, your book had a great line attributed to Lennon about how there are decades when nothing happens and weeks when decades happen. And it feels like that's been the course of this year. We seem to have had the post World War II architecture either dismantled or undermined. We have the Middle east been transformed in profound ways. China is certainly a rising power posing enormous challenges, humanitarian crises in many places. And President Trump certainly plays a major role in this transformation. So I just want to start with a lightning round asking each person for a high and a low of this year and to set a model of brevity, I will provide an example. And in my mind, the high was President Trump's emphasis with China on fentanyl and on reducing fentanyl precursor exports to Mexico in ways that I think actually are likely to save thousands of American lives. That to me seems the high and the low is the destruction of USAID, costing by one estimate 88 lives every hour of the Trump presidency for the next three years. David Petraeus, you're now at kkr, but you were a top military commander. You ran the CIA. What is a high and a low from this year?
C (2:15)
I think when it comes to the high, it's actually a toss up between the China trade framework, it's the most important relationship in the world after all, and then the follow up, but also the enormous increase in commitment by Europeans to spending on their own defense. The low, I think the global uncertainty from the tariffs that have been imposed by the U.S. eryl Haynes, you were.
A (2:39)
At the National Security Council and then Director of National Intelligence. What was a high and a low that you find most compelling?
B (2:47)
Yeah, well, I won't repeat some of the things that have already been said because I agree with many of them, but I do think a little known high in some respects is the work that's continued to be done on trying to provide peace to the eastern Congo in the context of the Democratic Republic Congo in Rwanda and something that Senator Coons has been a part of, as well as others in the administration. I think that's really been a nice thing. And then on the low side, there's a number to choose from. But I think just from a parochial perspective, I'll focus on the fact that I think that targeting of the civil service and the challenges that we've seen coming from the administration on that score is really a challenge for our institutions and for us moving forward.
