Kudlow: Biden has been the kind of president who is always too little, too late

Kudlow: Biden has been ambiguous about Taiwan

 FOX Business host weighs in on Biden’s meeting with Chinese President Xi on ‘Kudlow.’

In addition to the tragic efforts by war criminal Putin to level and destroy the beautiful Ukrainian city of Lviv, thereby continuing his crimes against humanity for which he must be prosecuted at some point, the other big event today is the two-hour phone call this morning between Presidents Biden and Xi. The big question there is whether China will re-supply economic and wartime materials to Russia. 

By all reports, Russia is experiencing major shortages. Their economy's in shambles. Their stock market is closed. Their currency is worthless and while they're still making money from oil and gas sales, increasingly the private sector in U.S. and Europe is self-sanctioning, adding to the damage to Russia. 

I still think Holman Jenkins's idea of escrowing cash from Russian energy sales to Europe is a good idea. If Putin ever makes peace, he can get his money back, but not now.  

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Russian President Vladimir Putin attends a flag raising ceremony via a video link at a state residence outside Moscow. (ALEXEY NIKOLSKY/SPUTNIK/AFP via Getty Images / Getty Images)

However, in terms of the Biden-Xi Zoom, we don't know what Xi said about providing more material support. On deep background, a senior administration official, the president described the implications if China provides material to Russia, but there were no details. 

Last week, NSC Adviser Jake Sullivan spent seven hours with his Chinese counterpart and threatened "severe consequences" if China helped Russia, but there's never any details. So, we're not much better off today about this story than we were yesterday. 

I do, however, want to take a moment to front-run a tremendous Wall Street Journal column by Professor Walter Russell Mead … because it's an important piece and the thrust of it is make Putin pay, don't let him off the hook, make sure he's paying a heavy price for his miscalculation in Ukraine. 

Walter Russell Mead says the past two weeks have changed the world. Mr. Putin's Russia turns out to be weaker and Ukraine stronger. 

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Now, Mead argues the administration must make opposition to Putin the core of its global foreign policy. Put climate change aside. Deny Russia any revenue from nuclear trade with Iran. Toughen the oil and gas sanctions. Mead paraphrases the Prussian general, Carl von Clausewitz, of the early 19th Century, who said, "The key to success is to pursue a retreating enemy. That's when it's possible to inflict the greatest damage on his forces." 

… I also want to note that the importance of today's Biden-Xi talks relates to Taiwan, where Biden has been ambiguous. At one point, the president said we would send in Marines and the Navy to defend Taiwan, but then his little minion weenies walked it back. Taiwan is so important to U.S. security. 

Losing Taiwan to China would open the door to great vulnerabilities to the north — to Japan and South Korea, and to the south — to the Philippines, Indonesia, Vietnam, Thailand, India and of course New Zealand and Australia. Of course, Taiwan is one of the semiconductor centers of the world economy. 

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President Biden announces that along with the European Union and the Group of Seven countries, the U.S. will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine, Friday, March 11, 2022, in the Roosevelt Room at t (AP Photo/Andrew Harnik / AP Newsroom)

Let us hope that Mr. Biden was tougher on Taiwan with Xi than even on Ukraine. It’s hard to say. You know, Biden has been the kind of president that is always too little, too late. 

As my friend Amb. Robert O'Brien always says, he's like a trader who's always chasing the market and never catches the best bid. Or maybe he'll read von Clausewitz about the hot pursuit of a retreating enemy — better advice there than in all the lefties of the progressive wing of the Democratic Party. 

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