FOX News Channel "Your World"- Transcript

Interview

MR. CAVUTO: The holy war on the Bible -- it is a story you heard first on this show. China said to be banning Bibles at the 2008 Olympics. Now Washington is getting involved; Senator Lindsey Graham demanding some answers. The senator joins me now.

Senator, what have you heard?

SEN. GRAHAM: Well, I heard on "Fox and Friends" this morning that the Chinese government is supposedly banning athletes and other Olympic personnel from having a Bible in the Olympic village. I couldn't believe it, so I called the Chinese ambassador to the United States this morning. He did not know of that policy and promised to get back to me, and I am waiting to hear from him. But I can't think of a worse decision the communist Chinese government could make in terms of damaging U.S.-Chinese relationships than implementing such a policy.

MR. CAVUTO: All right. The fact that he didn't get back to you -- what do you suspect?

SEN. GRAHAM: Well, let's look a little deeper. If the news had been that France or Mexico or Japan government banned Bibles coming into an Olympic venue in their country, we would dismiss it out of hand. The fact that we're not sure says a lot about China. And I impressed upon the Chinese ambassador to the United States that I want better relationships, but I'm upset with your business practices, with the way you treat our intellectual property. But you need to be put on notice that this issue could resonate in a way to harm U.S.-Chinese relationships more than anything I could think of. And to the business people listening to this show, we need to make sure this policy never happens. If it's being considered, it needs to be taken off the table.

MR. CAVUTO: There are a number of reverends -- yesterday, we had one on our show, Senator -- who have said just boycott the '08 Olympics if they don't change. What do you think?

SEN. GRAHAM: Well, you know, one, I want to hear what their policy is. But the ramifications of the Chinese government imposing such a policy at a time when the world needs to be more religiously tolerant --

MR. CAVUTO: But what if they say that is our policy, no Bibles?

SEN. GRAHAM: Well, then I think there will be an outcry in this country on all fronts. There will be an effort to --

MR. CAVUTO: To boycott?

SEN. GRAHAM: -- to not participate -- yeah, not to participate in the Olympics. There will be an effort to redefine our relationship. No good will come from this. And I don't want to overreact, but I felt strong enough, because if it's on Fox, you know, I believe you all say things that have some legitimacy. And I called the ambassador, and he couldn't tell me no. And that's what bothered me. He couldn't say hey, Senator Graham, that's crazy, there's no way we would do that. So I'm waiting to hear, and I'll let you know.

MR. CAVUTO: Real quickly -- they're doing this at a time they're also considering selling a lot of dollar-denominated stuff or switching out of it. Are they threatening us?

SEN. GRAHAM: I think so, in a way. You know, they always -- as I talk about revaluating yuan, I believe the yuan is tremendously undervalued --

MR. CAVUTO: That's their currency.

SEN. GRAHAM: -- along with Senator Schumer. Yes, their currency is very undervalued creating a competitive advantage unfair in nature. They should revalue their currency and eventually let it float. But yeah, I think they use this 'well, we own a lot of your debt here.' That doesn't resonate with me.

MR. CAVUTO: All right. Senator Lindsey Graham, thank you.

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