This partial transcript of The Beltway Boys, October 13, 2001 was provided by the Federal Document Clearing House. Click here to order the complete transcript.

Here's the "Tip Sheet" for next week's action.

Item number one, President Bush travels to Shanghai for the economic conference, the APEC conference.  High on the agenda, a meeting with Chinese Prime Minister Jiang Zemin.

FRED BARNES, CO-HOST:  Well, you know, he cut out the part of his trip when he was going to go to Beijing and have a, you know, a summit with the Chinese.  And here's why this meeting, when he chats with Jiang Zemin, is different.  Jiang Zemin is, and the Chinese, they are, odd man out in the world shift in the balance of power in the world.  September 11 led the Russians to throw in with the West completely and with the U.S.  India, a perennial foe of China, has joined us too.

And so rather than have an alliance against the hegemonic -- you know, that's your favorite word -- the superpower, that China would be a part of with the Russians and so on, everybody but China has jumped on our side against this radical Islam.

An important -- Jiang Zemin, he's just not as important as he was.

MORT KONDRACKE, CO-HOST:  Well, and Pakistan too, who is a -- which was an ally of China.

BARNES:  Yes.

KONDRACKE:  OK, item number two, Secretary of State Colin Powell will travel to Pakistan and India next week.

BARNES:  Well, and, you know, Musharraf, the, the military man who's the head in Pakistan, deserves a pat on the back.  He's quelled the domestic protests, he's helped the U.S. in a, in a tough situation.  And I, I think he'll get a little support from Powell, a little encouragement.  And he deserves it, and India, of course, has been great.  I mean, India, one of the great things that's happened in the Bush administration is detente between the U.S. and India, more than detente.

KONDRACKE:  You want to know something?

BARNES:  Yes.  What?

KONDRACKE:  What's on the agenda down the line?

BARNES:  Yes.

KONDRACKE:  Peace between Pakistan and India.  There's a Nobel Peace Prize to be won there.

Item three...

BARNES:  Indeed.

KONDRACKE:  ... Italian Prime Minister Silvio Berlusconi, your hero, will be in Washington Monday for a meeting with President Bush.

BARNES:  Are you referring to the Ronald Reagan of Italy, Silvio Berlusconi, great man, says, you know what he says that I love?  He says, Whichever side America's on, that's the side Italy's going to be on as long as I'm prime minister.  What more can you say?  Great man.

KONDRACKE:  Item four, Vice President Dick Cheney will come out of hiding next week.  He'll be attending the annual Alfred E. Smith Foundation dinner in New York City.

BARNES:  You know what, I assume when Cheney's there, and it's a very political dinner, but it's a bipartisan dinner, the Republicans and Democrats.  He will be talking up this bipartisan support for the war, which has been very good.  I look forward to hearing him.

KONDRACKE:  Yes, I, I agree.  I mean, he hasn't been in hiding, he's just been...

BARNES:  Well...

KONDRACKE:  ... in a secure location.

BARNES:  Yes.

KONDRACKE:  And number five, look for a flurry of corporate earnings reports next week, and investors are bracing for the worst.

BARNES:  Well, I'm an investor, you're an investor.  We're both bracing.  The problem is, the economy's bad.  It's hard to think that all of a sudden earnings are going to be great with this down economy.  No doubt we're in a recession.  So I'm going to -- maybe I won't be watching the tape much next week.  It'll be too discouraging.

 KONDRACKE:  Exactly.

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