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CCTV Script 11/09/19

— This is the script of CNBC's news report for China's CCTV on September 11, 2019, Wednesday.

Trump serves as president not a long time, but the list of National Security Advisor is long. On average, this important cabinet position posts a change in less one year, and now the forth advisor is coming. Trump tweeted on Sep 10, saying he has informed John Bolton last night that his service is no longer needed at White House.

He said in twitter that "I disagreed strongly with many of his suggestions, as did others in the Administration, and therefore I asked John for his resignation, which was given to me this morning". But Trump doesn't explain what they don't disagree with. It is reported that the discord between Trump and Bolton has already been brewing, and Bolton's battle with U.S. Secretary of State Pompeo for a say in foreign affairs may also contributed to his departure.

But Bolton has a different story about "ask John for his resignation" said by Trump.

He reiterated via twitter and media that he "offered to resign last night and President Trump said, "Let's talk about it tomorrow."

And it is out of his expectation that it turned to "Trump discharge him" in just one night. In financial market, crude oil price is closely related to Bolton, and the crude oil market also put lots of attention to him.

This political figure is a hyper-hawk and his desire to attack Iran goes back to George W. Bush. So when Trump said he discharged Bolton,

International oil price dropped.

Because the market expects the tense relationship between the U.S. and Iran may tend to be eased and the U.S. may degrade its sanction against Iran, after Bolton exits. In that sanction, a ban on Iran's oil exports is highly in touch with oil price. France most recently offered to provide a credit line to Iran of $15 billion if it would give up breaking up the nuclear deal and it would be allowed to resume export of 700,000 barrels a day of oil. Trump also said he would like to meet Iran's leadership without pre-conditions. At the coming United Nations' conference, leaderships of U.S. and Iran are probably to meet.

Steven Mnuchin

United States Secretary of the Treasury

Now the president has made clear, he is happy to take a meeting with no preconditions, but we are maintaining the maximum pressure campaign

Apart from the relation with Iran, the removal of Bolton will impact some other bilateral diplomatic relations that fell into a dilemma, including Iran, North Korea, Afghanistan, and Venezuela. We will keep a close eye on this issue.