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Speaker 1: When people ask me, are you afraid of what might happen?

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Speaker 2: I say no.

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Speaker 1: Because of the goodness of the American people, the strength

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Speaker 1: of our democracy, we won't prevail. And my motto is

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Speaker 1: the flag is still there.

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Speaker 3: She's been the face of her party for a generation,

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Speaker 3: spending two decades as a top House Democrat. Nancy Pelosi

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Speaker 3: made history when she became the first female speaker in

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Speaker 3: two thousand and seven. Until recently the most powerful woman

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Speaker 3: in US politics. She's also faced years of attacks from Republicans,

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Speaker 3: a campaign that escalated under former President Donald Trump.

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Speaker 1: We have an operation in our country right now, but

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Speaker 1: hopefully that won't last too much longer. But nonetheless, we

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Speaker 1: still have to strive for unity. Sometimes you achieve it,

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Speaker 1: sometimes you don't. But we have a responsibility to act

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Speaker 1: in bipartisan, unifying, transparent, accountable way.

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Speaker 3: In this episode of Leaders with Lacwile, I traveled to Venice,

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Speaker 3: where Nancy Pelosi was a special guest at the DVF Awards,

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Speaker 3: a charity event recognizing women leaders. I ask her about

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Speaker 3: the divisions in America, the Democrats' chances that next year's

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Speaker 3: presidential election, the biggest geopolitical threats, and what she's learned

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Speaker 3: for more than thirty five years in public office.

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Speaker 2: Speaker Pelosi, thank you so much for speaking to Bloomberg.

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Speaker 4: You're one of the most recognizable and also one of

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Speaker 4: the most admired politicians out there. What did you learn

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Speaker 4: in the last forty years about leadership in politics?

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Speaker 1: Well, I've been learning a lot about leadership for a

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Speaker 1: very long time, observing it in others, recognizing what it's

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Speaker 1: needed to get the job done. And I always define

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Speaker 1: it in this way.

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Speaker 2: Know your why.

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Speaker 1: You have to know why you're doing this because you

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Speaker 1: will be under attack this for sure. Know your why,

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Speaker 1: know what you're talking about, know how to get it done,

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Speaker 1: Think in a strategic way, and then that's all uppear.

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Speaker 1: And then also connect directly with people. If you can

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Speaker 1: show them how important what you're advocating is and what

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Speaker 1: you know you're talking about, so they trust your judgment

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Speaker 1: and you have a plan, You will have followers, you

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Speaker 1: will be a leader.

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Speaker 4: Is it harder to do that in twenty twenty three

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Speaker 4: because of the divisions in America?

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Speaker 1: Well, we have to Our goal is not an inch

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Speaker 1: by inch. It's long term, and of course it's always

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Speaker 1: to bring people together. We have an operation in our

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Speaker 1: country right now, but hopefully that won't last too much longer.

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Speaker 1: But nonetheless, we still have to strive for unity. Sometimes

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Speaker 1: you achieve it, sometimes you don't. But we have a

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Speaker 1: responsibility to act and bipartisan, unifying, transparent, accountable way.

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Speaker 2: How do you think President Biden is doing. I think

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Speaker 2: he's doing great.

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Speaker 1: I think President Biden is one of the best presidents

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Speaker 1: in recent history. For decades, nobody has accomplished more since

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Speaker 1: Lyndon Johnson or Franklin Mosevel. Whether it's our rescue package

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Speaker 1: to rescue a country from the COVID and the rest,

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Speaker 1: whether it's our infrastructure bill to build the country with

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Speaker 1: good paying jobs, whether it's just the Science and Chips

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Speaker 1: initiative to take us into the future, whether it's IRA

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Speaker 1: which is just remarkable, to recognize the challenge of the

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Speaker 1: climate crisis and to address it significantly in a bigger

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Speaker 1: way than we ever have, a bigger way than anyone

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Speaker 1: ever has. But recognizing more needs to be done, and

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Speaker 1: at the same time recognizing our men and women in

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Speaker 1: uniform and our commitment to them.

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Speaker 4: Speaker, is it frustrating actually that he has achieved a

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Speaker 4: lot on paper? Yeah, he doesn't always seem to get

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Speaker 4: the recognition from.

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Speaker 1: Vote is it's it's sometimes hard to understand. But we

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Speaker 1: don't agonize, we organize. But just this is well, please

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Speaker 1: understand why is accomplish what it means to you at

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Speaker 1: your kitchen table and people, most people, I'm realizing, aren't

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Speaker 1: thinking about politics that much, so think about their own

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Speaker 1: challenges and the rest. And we have to have him

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Speaker 1: relate to that. Now, nobody's better at that than he is.

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Speaker 1: Joe Biden is mister empathy. He cares deeply about people.

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Speaker 1: He truly does. So I think he's a great president.

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Speaker 1: I think he will be re elected. Elections are hard,

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Speaker 1: they're called campaigns. That's a war term. But we'll be ready.

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Speaker 1: And as I say, we don't agonize over what isn't,

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Speaker 1: but organized for what will be.

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Speaker 2: What's it been like for the Democrats to be the minority?

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Speaker 1: Not a good thing. I don't recommend minority at all.

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Speaker 1: It is, but we're going to win it back. We

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Speaker 1: have every confidence in that. I mean, they said we'd

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Speaker 1: lose forty seats, thirty seats at a minimum.

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Speaker 2: We lost five.

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Speaker 1: That wasn't good enough. I wanted the majority. But we

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Speaker 1: can win five seats, well more than five seats back.

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Speaker 2: How have you changed as a politician?

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Speaker 1: Well, I think if I mellowed out, become gentle.

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Speaker 2: Really, I don't know.

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Speaker 3: No, I.

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Speaker 1: Pretty much knew what I was getting into.

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Speaker 2: I didn't.

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Speaker 1: I didn't seek running for leadership. People encouraged me to

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Speaker 1: do so, and I knew my why. I knew what

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Speaker 1: was at stake. I knew how to get the job done,

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Speaker 1: and I knew how to draw people together. And at

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Speaker 1: the same advice I give others I did myself. Women

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Speaker 1: have intuition. People don't talk about it so much, but

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Speaker 1: when I was young, that was what people talked about.

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Speaker 1: Intuition is a very valuable thing in leadership. And when

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Speaker 1: people say to me they want to run from president

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Speaker 1: or governor or mayor or even leadership in the Congress,

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Speaker 1: I said, understand, you're going from a deductive reasoning of

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Speaker 1: how do we get this legislation passed? To intuitive there's

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Speaker 1: a problem. You must act. The more time you don't,

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Speaker 1: the fewer your options are. So be ready, know your subject,

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Speaker 1: have good judgment.

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Speaker 2: Be wise, but speak oppose.

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Speaker 4: You know, stood up against President Trump many times, and

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Speaker 4: he's gotten you all some spots.

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Speaker 1: Of trouble or are people more afraid now of taken

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Speaker 1: him on. I didn't stand up to him many times.

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Speaker 1: I stood up to him once. It lasted a very

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Speaker 1: long time. Yeah, people are afraid of him now because

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Speaker 1: as you see his desperation. In other words, it's one

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Speaker 1: thing to say we have a disagreement on policy, okay,

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Speaker 1: and we do. We have another thing to say that

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Speaker 1: truth is not prevailing. But it's another thing to say

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Speaker 1: there's a recognition of all of the violations of the

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Speaker 1: rule of law, that any person is above the law.

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Speaker 1: Undermining the press, which is the freedom of the press,

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Speaker 1: is the guardian of the gate of freedom. So he

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Speaker 1: was clever undermine the press, undermine the rule of law.

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Speaker 1: I'm above the law. So seeing the length to which

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Speaker 1: he will go, of course, is more frightening. He's a

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Speaker 1: threat to our democracy, but we intend to win. He's

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Speaker 1: so popular with the ft, he's popular among his group.

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Speaker 1: Are you surprised at how popular he is with well,

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Speaker 1: I'm never surprised. It's not a word I use. Is

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Speaker 1: interesting to see how there is a certain element of

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Speaker 1: the population who will just go for him. They're people

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Speaker 1: we would probably never get. They don't share our values

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Speaker 1: in terms of respect for the dignity and worth of

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Speaker 1: every person and the rest. But there are some who

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Speaker 1: are supporting him or just afraid, and that's to be respected.

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Speaker 1: So I respect all of the people America. And when

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Speaker 1: people ask me, are you afraid of what might happen?

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Speaker 2: I say no.

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Speaker 1: Because of the goodness of the American people, the strength

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Speaker 1: of our democracy, we will prevail. And my motto is

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Speaker 1: the flag is still there. As we say in our

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Speaker 1: national anthem, is there a Republican president a candidate that

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Speaker 1: you can live with? I'm not into Republicans, I'm into

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Speaker 1: the Democrats, and hopefully the Republican Party can find a

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Speaker 1: candidate that the American But I say to the Republicans

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Speaker 1: all the time, take back your party. The Republican Party

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Speaker 1: is a great party. You've done great things for our country.

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Speaker 1: You're not a cull to a thug. You're a great,

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Speaker 1: grand old party. And recapture that because the public the

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Speaker 1: America needs a strong Republican Party, a strong Democratic party too,

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Speaker 1: but strong Republican Party. So hopefully as soon as we

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Speaker 1: get through this shall we say cancer situation that we're

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Speaker 1: in the malignancy of Trump, they will emerge in a

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Speaker 1: strong way with the leadership that I know is there

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Speaker 1: in the Republican Party.

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Speaker 3: Up next, Nancy Pelosi's harsh assessment on China and why

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Speaker 3: she thinks the world's two biggest economies must cooperate on

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Speaker 3: climate change.

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Speaker 1: We don't have shared values, but we have a shared planet,

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Speaker 1: and we have to work with the Chinese to save

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Speaker 1: the planet because they're now I think, the biggest emitter,

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Speaker 1: if not us, their second, and they're part of the

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Speaker 1: solution in all of this.

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Speaker 3: From Taiwan to tech curves, human rights concerns to COVID,

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Speaker 3: China's relationship with the US has been rocky. In recent months,

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Speaker 3: Washington has sent several high profile officials to Beijing seeking

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Speaker 3: to improve times, but will anything change? I continue the

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Speaker 3: conversation with Nancy Pelosi, a longtime critic of the Chinese government.

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Speaker 3: When you look at geopolitics, what scares you the most?

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Speaker 1: There are three things. One is security, security, security, security,

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Speaker 1: so important. Security. Secondly is economics. How do we relate

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Speaker 1: economically because that's the strength of all of our countries

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Speaker 1: to do so in a shared manner? And governance governance,

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Speaker 1: What is the strength of the democracy in your country?

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Speaker 1: How do you treat people and respect them? What is

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Speaker 1: the integrity of your economic system? So those are the

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Speaker 1: how we relate as Americans. Going brought on security, what

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Speaker 1: is happening in Ukraine is a challenge to democracy, not

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Speaker 1: just there, not just in the natural countries, but really

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Speaker 1: to the world. And what a tribute to democracy that

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Speaker 1: the courage of the Ukrainian people are frightening is that

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Speaker 1: putin Is does not share any values of democracy, of justice,

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Speaker 1: of respect for the lives of people, concerned for children,

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Speaker 1: or anything.

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Speaker 2: And he's frightening.

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Speaker 1: But it's doubly frightening is a person like the former

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Speaker 1: president who thinks that's okay, isn't that sad? But it's

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Speaker 1: so sad, it's so extreme that it's everything to me

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Speaker 1: is not frightening but an opportunity.

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Speaker 2: An opportunity.

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Speaker 4: But when you look at China, for example, if you

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Speaker 4: look at the you know what the US has been

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Speaker 4: doing with China and how they should treat China going forward.

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Speaker 1: Well, it's China's a big country and we have and

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Speaker 1: so are we and we have to find an accommodation

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Speaker 1: on how we treat each other. But in terms of

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Speaker 1: the three things I name security, China has been a

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Speaker 1: violator of transferring technology of weapons of mass destruction to

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Speaker 1: rogue countries, a B. In terms of economics, they've been

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Speaker 1: violated almost every trade standard, of access, of piracy weighing

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Speaker 1: WTA rules in the rest, and in terms of governance.

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Speaker 1: Need I tell you Hong Kong to bet we are

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Speaker 1: threat to Taiwan and the rest. So we don't have

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Speaker 1: shared values, but we have a shared planet and we

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Speaker 1: have to work with the Chinese to save the planet

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Speaker 1: because they're now I think the biggest emitter, if not us,

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Speaker 1: their second, and they're part of the solution and all

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Speaker 1: of this. I've been to China as much as I

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Speaker 1: have for thirty five since Tenman Square. How many years

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Speaker 1: is that? Thirty four years been a strong critic of

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Speaker 1: China in so many respects, security, economics, and governance. Still,

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Speaker 1: we have to work together in certain areas and we

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Speaker 1: have to find those I don't think we find them

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Speaker 1: by rewarding them. I think we find them by a

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Speaker 1: mutual discussion about how we can go for it.

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Speaker 4: Is that bringing them closer, so closer to them actually

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Speaker 4: relationship with the US. So that's maybe it becomes a

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Speaker 4: better working relationship also economically.

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Speaker 1: Our trade deficit with China is an immorality. When you

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Speaker 1: see the fuss that was made a long time ago

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Speaker 1: about Japan was like two to one, almost three to

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Speaker 1: one sometimes of their imports into our country versus our

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Speaker 1: exports to theirs. With China, it's more than double that.

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Speaker 1: And it's a When I first started criticizing China about

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Speaker 1: the three areas, I said the trade deficit was five

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Speaker 1: billion dollars a year, and people said to me, oh,

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Speaker 1: you can't make a fuss over that, because the peaceful

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Speaker 1: evolution is going to lead to the trade is going

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Speaker 1: to lead to this, that and the other thing. Well, now,

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Speaker 1: the trade deficit with China is not five billion dollars

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Speaker 1: a year. It's five billion dollars a week. And we

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Speaker 1: gave it to them. They used that money for they're

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Speaker 1: foreign exchange to go into other countries, buy up support

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Speaker 1: and the rest of that, and we were accomplices to that.

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Speaker 1: And I've always criticized our policy towards China in that regard.

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Speaker 2: How often do you get asked about your trip to Taiwan?

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Speaker 1: Not enough. I love talking about it as a matter of.

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Speaker 4: Do you think it's changed something in the way that

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Speaker 4: the US and China speak to each other.

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Speaker 1: Well, there's no president. She has always criticized my criticizing him.

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Speaker 1: My colleagues meant men, senators and the rest had been

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Speaker 1: to Taiwan right before me. He never said did you

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Speaker 1: know that? Did you know that? He never said a word.

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Speaker 1: But I have been sort of outspoken about China US

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Speaker 1: China relations and with the love for China, with the

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Speaker 1: love for the Chinese people. When I was a little girl,

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Speaker 1: they'd said, if you dig a hole deep enough in

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Speaker 1: the sand at the beach, you will reach China. So

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Speaker 1: we felt that we were all connected. So it isn't

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Speaker 1: with any dislike for things Chinese or people Chinese. It's

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Speaker 1: about It's about what a genocide of the Wigers, a

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Speaker 1: suppression of democracy in Hong Kong, other while promising some

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Speaker 1: country one country, two systems, taking down of the culture,

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Speaker 1: the language, and the religion the people in Tibet. The

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Speaker 1: threat to Taiwan, the threat to democracy, not democracy, but

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Speaker 1: I speak, a threat to freedom of speech.

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Speaker 2: What do you think will happen with Taiwan.

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Speaker 1: We recognize China. Our visit did nothing to alter that,

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Speaker 1: and we have a communicates, laws that govern our relationship

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Speaker 1: with China and our relationship with Taiwan, which are very specific,

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Speaker 1: and we are committed to helping Taiwan defend itself should

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Speaker 1: they be attacked. We don't want any change in status

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Speaker 1: unless it would to be done peacefully, but no aggression

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Speaker 1: from either side.

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Speaker 2: Speaker.

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Speaker 4: We're seeing also a downturn in terms of the economy

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Speaker 4: in China, which could impact the rest.

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Speaker 2: Of the world. Do you think President she is losing

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Speaker 2: control of it.

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Speaker 1: We and other countries decided to ride this tiger, and

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Speaker 1: we poured money.

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Speaker 2: You know, they just.

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Speaker 1: They We just bought everything they had to sell. We

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Speaker 1: increased their and then when and then when their economy

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Speaker 1: is in trouble, we're like, oh, look, it has an

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Speaker 1: impact on us. Surprise, surprise, surprise, surprise. But it's not

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Speaker 1: a We don't want any country to suffer economically, because

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Speaker 1: people suffer economically. But I understand this. It's a centralized economy,

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Speaker 1: it's a.

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Speaker 2: One man show.

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Speaker 1: It isn't anything about values, governance, integrity, certainly nothing to

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Speaker 1: do with democratic freedom. So I'm not even talking about

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Speaker 1: a democracy. I'm talking about establishing a democracy. Of what

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Speaker 1: we're talking about. I mean, this is pretty complete in

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Speaker 1: terms of she he is a step backward from President who,

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Speaker 1: by the way.

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Speaker 2: But speaker.

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Speaker 4: At the same time, the economy is actually falling, so

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Speaker 4: is he.

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Speaker 2: I mean, how do you read that.

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Speaker 1: We don't wish of failing economy or anyone, but we

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Speaker 1: don't say, oh my gosh, Now some people have an attitude.

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Speaker 1: I profit it for it then and now I'm not.

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Speaker 1: But it was worth it to me to just go

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Speaker 1: along with the whole China thing. Money has been really

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Speaker 1: a sad fact during this because from the start corporate America.

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Speaker 1: Corporate America just said, we don't care about human rights.

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Speaker 1: I don't think they mostly ever have. We don't care

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Speaker 1: about human rights and the security pieces of it they

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Speaker 1: should have. But on the trade stuff, most small businesses

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Speaker 1: that would want to trade the chime were completely cut

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Speaker 1: out because the Chinese said, if you want to sell

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Speaker 1: to us, you must manufacture here, and if you manufacture here,

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Speaker 1: we want to see your designs. And if we have

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Speaker 1: your designs, we don't need you anymore. And by the way,

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Speaker 1: you're not selling here, you can compete with us in

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Speaker 1: the global market.

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Speaker 3: Up next, Nancy Pelosi on why artificial intelligence can't be

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Speaker 3: a free for all.

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Speaker 1: We need guardrails, we need standards and the rest so

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Speaker 1: that this double edged sword doesn't do harm but instead

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Speaker 1: does good.

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Speaker 3: Artificial intelligence the buzzword that's dominating headlines and creating a

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Speaker 3: frenzy in the tech world, but the dangers of misinformation

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Speaker 3: and fears of potential threats to privacy, security, and livelihoods

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Speaker 3: have forced governments.

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Speaker 2: To move to regulate it.

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Speaker 3: It's a task lawmakers in the US are still grappling with.

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Speaker 3: I continue the conversation with Nancy Pelosi.

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Speaker 2: Speaker.

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Speaker 4: How much time do you spend thinking about Elon Musk?

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Speaker 4: I mean he's a force.

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Speaker 1: No, yeah, well, I do say he's a force in

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Speaker 1: terms of technology, especially relating to Ukraine. But I don't

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Speaker 1: spend too much and we have a lot of strong leaders.

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Speaker 1: I come from an area that is very, shall we say,

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Speaker 1: technologically on the move. Yeah, and every year since I've

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Speaker 1: been in an officer, even before, they have said to me,

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Speaker 1: you ain't seen nothing yet, so we don't know what

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Speaker 1: is next. But I don't spend too much time thinking about.

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Speaker 2: Him in terms of AI or technology.

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Speaker 1: AI really is a double edged sword, and that is

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Speaker 1: not that's in my district to in San Francisco, and

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Speaker 1: the people that I know who are working in it,

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Speaker 1: who care about our country, care about our country, know

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Speaker 1: that it's a double edged sword that we need guardrails,

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Speaker 1: we need standards in the rest so that this double

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Speaker 1: edged sword does not harm, doesn't do harm, but instead

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Speaker 1: does good. And it can do some good. But right

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Speaker 1: now we have a strike in the creativity industry, writers

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Speaker 1: and actors in the REST, and there has to be

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Speaker 1: respect for the creativity that they have, and AI has

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Speaker 1: an impact, could have an impact on that, and we

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Speaker 1: have to recognize that, write laws to.

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Speaker 2: Respect that.

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Speaker 1: In our constitution, we have respect for copyright. But do

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Speaker 1: we need to regulate AI just and protections and protections

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Speaker 1: we do social media? I mean, and social media has

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Speaker 1: been a double edged sword. It's done tremendous damage while

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Speaker 1: it's done tremendous good and that's really sad. But who

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Speaker 1: would want to reverse the ability to have health, technology

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Speaker 1: and education and commerce and family communication and all the

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Speaker 1: good things that spring from it while at the same

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Speaker 1: time seeing filthy, dirty stuff being presented to our children

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Speaker 1: and the rest of that. So there has to be

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Speaker 1: a way for families to know how to protect their children.

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Speaker 1: I myself think that there's a regulation in the law

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Speaker 1: that could be changed to protect children. That's an ongoing

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Speaker 1: fight we have with the technology industry.

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Speaker 4: We talk about leadership. It's also I guess about you know,

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Speaker 4: grooming the next generation. Is there anyone that you would

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Speaker 4: support in the Democratic field for president, for president or

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Speaker 4: for senator?

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Speaker 1: Well, I'm supporting Adam Schiff or senator from California. We

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Speaker 1: have forty million people in our state. Our senator who

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Speaker 1: is very revered. Senator Feinstein has been a champion in

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Speaker 1: California and in the country. Whether you're talking about assault

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Speaker 1: weapon band, she has been the leader in passing legislation

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Speaker 1: for that, whether you're talking about protecting our natural resources,

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Speaker 1: whether it's water, forest and so again, it's a big state.

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Speaker 1: It's the fourth economy in the world, and we need

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Speaker 1: full strength in the Senate.

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Speaker 4: There have been younger Democrats, you know, saying that senior

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Speaker 4: Senator should criticizing her.

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Speaker 2: Put into our world. People criticize everybody, but should they

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Speaker 2: not criticize you. They can do whatever they want, it's

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Speaker 2: a free world. But they don't.

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Speaker 1: And I can criticize them for criticizing her because the

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Speaker 1: fact is she's been really so so much a champion

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Speaker 1: and tell you to choose. Over the years, there have

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Speaker 1: been many men who have had concerns and their service,

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Speaker 1: and some of them young but nonetheless ill. But you

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Speaker 1: never even heard about them. And I'm not going to

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Speaker 1: tell you they are.

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Speaker 4: I mean, I final question, the big elephant in the room,

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Speaker 4: because we're an intoy, is that they're always reversed.

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Speaker 2: You'll you'll end up as ambassador maybe to that and

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Speaker 2: we have an ambassador. Will you Will you serve your

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Speaker 2: your full term?

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Speaker 1: No as Congress, will Congres absolutely positively, no question about that.

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Speaker 1: Questions what do beyond that?

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Speaker 2: So you're not going anywhere for now?

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Speaker 1: No?

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Speaker 2: No, I know, well go No, I mean, I'm here

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Speaker 2: speak America. Thank you so much for joining us today.

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Speaker 1: My pleasure, thank you, thank you so much,