Why a New Cold War Would Differ Economically

Chuck Todd reacts to the breaking news that Trump has fired Attorney General Pam Bondi — the second Cabinet member ousted in a month after Kristi Noem — and warns that what should alarm Americans isn't Bondi's departure but what comes next. He explains that like Jeff Sessions before her, Bondi apparently had lines she wouldn't cross: Trump grew frustrated that she hadn't prosecuted enough of his political enemies and was dissatisfied with her handling of the Epstein files. He traces Bondi's complicated history with Trump back to 2013, when she received fraud complaints against Trump University as Florida's attorney general, then dropped the investigation after a Trump PAC donated to her campaign — a transactional relationship that defined her entire arc. He argues that Trump doesn't believe in an independent justice system and never has, that he doesn't care about the law but only about loyalty, and that Bondi — a former Democrat who grew up in politics and was once a mostly by-the-book prosecutor in Tampa — has now destroyed her reputation with everyone by serving a president who discards people the moment they become inconvenient. With Trump's former personal criminal defense attorney Todd Blanche now installed as acting AG and Lee Zeldin reportedly under consideration as permanent replacement, Todd warns the DOJ could get far worse. He closes by turning to the Iran war's cascading energy crisis, which he says will be the worst the world has ever seen with Russia and China as the primary beneficiaries, and lays out the impossible bind: the U.S. will likely have to deploy ground troops to secure the Strait of Hormuz, but there will be disasters whether Trump commits those forces or simply walks away.

Then, Eyck Freymann — Hoover Fellow at Stanford University and author of the new book Defending Taiwan: A Strategy to Prevent War with China — joins the Chuck Toddcast for a riveting conversation about the world's most dangerous geopolitical flashpoint at a moment when America is stretched dangerously thin by the Iran war. Freymann argues that the remainder of Trump's term represents a unique window of opportunity for Xi Jinping to move on Taiwan, not necessarily through a dramatic amphibious invasion — which Taiwan's geography makes incredibly difficult and which would result in the U.S. destroying China's navy and air force in a high-intensity conflict — but through coercion, quarantine, or political manipulation designed to change Taiwan's orientation without firing a shot. He explains that Taiwan is more than a strategic asset for China: it's a democratic success story that represents a shining alternative to CCP rule, making it the lynchpin of Xi's "national rejuvenation" project. Freymann unpacks Xi's recent purges of top military leaders as a sign that he now has full control of the PLA, notes that Western intelligence agencies have struggled to penetrate China's inner circle, and warns that Xi may issue direct threats to Taiwan during their 2028 election — a pattern of coercion that the U.S. must develop tools to deter.

The conversation turns to what a realistic defense strategy looks like — and what the Iran war is teaching Beijing in real time. Freymann pushes back on war games that show China winning, arguing they aren't a crystal ball and that the U.S. retains significant advantages in cyber warfare and conventional naval power. But he warns that China is more likely to pursue a "quarantine" rather than a full blockade — a semantic distinction with enormous legal and strategic implications, since a blockade would turn the entire world against China while a quarantine creates more ambiguity. He notes that China is carefully studying both Russia's failures in Ukraine and America's struggles in Iran to learn what not to do. His bottom line: in the best-case scenario, we're headed for another cold war — but China doesn't actually want to fight the United States because the risks are far too high, and the American public, already exhausted by Iran, has zero appetite for another conflict.

Finally, he answers listeners’ questions in the Ask Chuck segment.

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Timeline:

(Timestamps may vary based on advertisements)

00:00 Chuck Todd’s introduction

03:15 Trump fires Attorney General Pam Bondi

04:15 There were things Bondi wasn’t comfortable doing, like Jeff Sessions

05:30 Trump doesn’t believe in an independent justice system

06:30 Trump wants the DOJ to serve his own ends

07:45 Trump doesn’t care about the law, he cares about loyalty

09:00 Bondi used to be a Democrat, grew up in the world of politics

10:30 Bondi used to be a mostly by the book prosecutor in Tampa

12:00 In 2013, Bondi received fraud complaints against Trump University

12:30 Trump PAC donated to Bondi, the she dropped the lawsuit

13:15 Like Bill Barr, there were lines Bondi wouldn’t cross

14:15 Bondi has hurt her reputation with everyone by working for Trump

15:15 Bondi’s firing should concern everyone. DOJ could get far worse 

16:00 Energy crisis due to Iran will be the worst ever. Russia & China benefit

17:30 We’re going to have to use ground troops to secure Strait of Hormuz

18:15 There will be disasters if Trump just leaves, and disasters with ground troops

24:30 Eyck Freymann joins The Chuck ToddCast

26:30 What is the strategy for defending Taiwan?

27:15 The U.S. has a long-standing “One China” policy

28:15 The goal is to let the Taiwan situation get resolved peacefully

29:45 What’s the practical reason the Chinese want Taiwan so badly?

30:15 Taiwan is a democratic success story, shining alternative to CCP

31:15 Taiwan’s geography makes an invasion incredibly difficult

32:45 If China can take Taiwan, other dominoes in the region could fall

33:30 Taiwan is a “nice to have” not “need to have” for China

35:00 China’s project is “national rejuvenation”, Taiwan is lynchpin of that

36:30 U.S. stretched thin, best chance for China is while Trump is president?

37:45 Remainder of Trump’s term is unique opportunity for Xi

40:15 How should we read Xi’s purges of top military leaders?

41:45 Xi Jinping doesn’t give many interviews, remains an enigma

44:30 Western intelligence agencies have struggled to penetrate China

46:15 Xi is in full control of the PLA after the military purges

47:15 The last thing you want to be in CCP is the rumored successor to Xi

48:30 Xi may issue threats to Taiwan during their 2028 election

51:00 How does the U.S. deter coercion of Taiwan by China?

52:15 War games showing China wins more often are not a crystal ball for reality

53:00 A high intensity war would result in the U.S. destroying PLA navy & air force

53:45 U.S. has advantage over China in cyber warfare

55:15 U.S. can stabilize the situation by responding proportionally

56:30 China thinks they can win a PR war, change Taiwan politically in their favor

58:00 American public has no appetite for war, Iran war unpopular from Day 1

59:30 Could Taiwanese who want independence just flee the country?

1:01:45 Occupying Taipei would make Kabul & Mosul look like child’s play

1:02:45 A blockade of Taiwan is Plan B, not Plan A

1:04:00 A blockade would turn the entire world against China

1:04:45 China more likely to “quarantine” Taiwan than blockade

1:06:30 China has grown a middle class that will demand services & stability

1:08:00 China’s economic ties to other countries create their own deterrence

1:10:30 China is 1/3rd of world manufacturing, in every global supply chain

1:12:15 Some version of TPP is coming back because we don’t have a choice

1:14:00 In the best case scenario, we’re headed for another cold war

1:16:30 Invading via the Taiwan strait is incredibly difficult

1:17:30 Chinese military is untested, could they “test” somewhere else?

1:18:15 China is taking lessons from Russia in Ukraine & U.S. in Iran

1:19:30 China doesn’t want to fight the U.S. - It’s far too risky 

1:22:00 Ask Chuck

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