Jason Calacanis

But I just don't see them meeting and coming out with nothing.

I think I see them going in and coming out with something that's historic.

And I think that all of this, Venezuela and Iran together, is all about China.

Because they need him.

They need the oil.

20% of their entire domestic consumption is oil from Venezuela and Iran.

20%, but it's not 20% because it's literally 100% of anything that's feedstock, anything that's transport, cars, buses, planes.

They are in an enormous world of hurt.

Now, they have a strategic petroleum reserve as well, and it's quite robust, but it's not robust enough to sustain five or six months of this.

It's not that robust.

So at the end of the day, who is going to be hurting the most?

It is China.

And so if you play this game theory out, the reason he kept it is because now he needs to summit even more.

Could you imagine if the president canceled?

That would be a disaster for the Chinese.

So the fact that it's still on the books, if I was Xi, I'd be like, how do I negotiate and help find the off ramp?

How do I end up fixing this faster?

All right.

Remember, you have 25% unemployment of young men inside of China.

25% today.