The private equity firm of former Vice President Joe Biden’s son Hunter Biden inked a billion-dollar deal with a subsidiary of the Chinese government’s Bank of China just 10 days after the father and son flew to China in 2013.
The Biden bombshell is one of many revealed in a new investigative book Secret Empires: How the American Political Class Hides Corruption and Enriches Family and Friends by Government Accountability Institute President and Breitbart News Senior Editor-at-Large Peter Schweizer. Schweizer’s last book, Clinton Cash, sparked an FBI investigation into the Clinton Foundation
.. In December of 2013, Vice President Biden and his son Hunter flew aboard Air Force Two to China. Ten days after the trip, a subsidiary of the Bank of China named Bohai Capital signed an exclusive deal with Hunter Biden’s firm to form a $1 billion joint-investment fund called Bohai Harvest RST. The deal was later increased to $1.5 billion.
If you’re a murderous dictator, this is a joyous time to be alive.
No one will make much of a fuss if your opposition leader is jailed, if an annoying journalist goes missing or if, as happened in Congo, a judge who displeases the dictatorial president suffers a home invasion in which goons rape his wife and daughter.
.. The U.S. has abandoned a bipartisan consensus on human rights that goes back decades.
.. I’m back from Myanmar, where leaders are finding that this is also the optimal time to commit genocide.
The army conducted a scorched-earth campaign against the Rohingya ethnic minority, with soldiers throwing babies onto bonfires as they raped the mothers.
.. In the past, human rights was at least one thread of our foreign policy.
.. Trump defended Vladimir Putin for killing critics (“What? You think our country’s so innocent?”), and praised Egypt’s brutal president, Abdel Fattah el-Sisi, for “a fantastic job.” Trump hailed the Philippines’s president, Rodrigo Duterte, whose dirty war on drugs has claimed 12,000 lives, for an “unbelievable job on the drug problem.”
.. when Trump visited Manila, he laughed as Duterte called reporters “spies” — in a country where aggressive journalism has landed people in the morgue.
.. A record number of journalists are in prison worldwide
.. Trump has met with the leaders of each of the three top jailers of journalists — China, Russia and Turkey — and as far as we know, has never raised the issue of press freedom with them.
.. “What’s completely gone is the bipartisan consensus that was a cornerstone of our foreign policy, that if you imprison journalists and restrict the media, there will be consequences,”
.. In Cambodia, Prime Minister Hun Sen approvingly cited Trump’s attacks on fake news as a precedent for closing down radio stations and the much admired newspaper Cambodia Daily. After the crackdown, in November, Trump posed for a photograph with Hun Sen, flashing a thumbs-up — and Hun Sen praised the American president for his lack of interest in human rights.
.. “Your policy is being changed,” Hun Sen declared gratefully, and he lauded Trump for being “most respectful.”
.. Trump told the king of repressive Bahrain, “there won’t be strain with this administration.”
.. the government responded a few days later by killing five protesters
.. sentencing Rajab himself to five years in prison for his tweets.
.. Trump’s soft spot for authoritarianism goes way back. He has spoken sympathetically of the Chinese government’s massacres of pro-democracy protesters in 1989, and of Saddam Hussein’s approach to counterterrorism.
.. Periodically, Trump does raise human rights issues, but only to bludgeon enemies like North Korea or Venezuela. This is so ham-handed and hypocritical that it simply diminishes American standing further.
.. approval of the United States has collapsed to a record low of 30 percent. Indeed, more people now approve of China than of the United States. Russia is just behind us.
.. “Trump has been a disaster for U.S. soft power,”
.. “He’s so hated around the world that he’s radioactive. So on those rare occasions when he does something about human rights, it only tarnishes the cause.”
.. In Myanmar, a young Rohingya man pleaded with me: “Please don’t let us be treated as animals.
.. “It means that what we crave in these sham, everything’s-great events is something real.”
One of the hardest things to accept for all of us who want Donald Trump to be a one-term president is the fact that some things are true even if Donald Trump believes them! And one of those things is that we have a real trade problem with China. Imports of Chinese goods alone equal two-thirds of the global U.S. trade deficit today.
.. he’s so weirdly obsessed with protecting “manly” industries like coal, steel and aluminum that affect our allies more than China — and he’s built such a chaotic policymaking process and unilaterally surrendered so much leverage to Beijing — that he can’t be relied upon to navigate the China trade issue in our national interest.
.. David Autor, the M.I.T. economist who’s done some of the most compelling research on the impacts of China trade
.. the “shock” that China delivered to U.S. lower-tech manufacturers in the years right after Beijing joined the World Trade Organization in 2001
.. roughly 40 percent of the decline in U.S. manufacturing between 2000 and 2007 was due to a surge in imports from China primarily after it joined the W.T.O.
.. it led to the sudden loss of about one million factory jobs in Ohio, Michigan, Wisconsin and Pennsylvania. Trump won all of those states.
.. This “China shock,” said Autor, led not only to mass unemployment but also to social disintegration, less marriage, more opioid abuse and more people dropping out of the labor market and requiring government aid.
.. “International trade creates diffuse benefits and concentrated costs,”
.. has created identifiable losers in trade-impacted industries
.. We assumed that China would “reform and open” after it joined the W.T.O.,
.. Instead, China “reformed and closed.” So China kept a 25 percent tariff on new cars imported from the U.S. (our tariff is 2.5 percent)
.. China grew its companies behind a wall of protection, fed them with state funds and, when they were competitive enough, unleashed them on the world
.. “Chinese and foreign makers are about to start sending huge numbers of fully built cars to the U.S. We are about to see a big increase in the U.S. trade deficit in automotive in the next several years.”
.. U.S. tech firms, like Apple, that want to offer cloud services to Chinese citizens have to store the data in China on servers operated by a Chinese partner. The U.S. has no such regulation.
.. “if they don’t accept demands to partner with Chinese companies and store data in China, then they risk losing access to the lucrative Chinese market, despite fears about trade secret theft and the rights of Chinese customers.”
.. “no US auto company is allowed to own even 50% of their own factory in China, but there are five 100% China-owned EV auto companies in the US.”
.. American electric vehicle (E.V.) companies operating in China are forced to have a Chinese partner and transfer technology to them.
.. they are also playing by a set of rules that others would be naïve to ignore.
.. So what would a smart American president do? First, he’d sign the Trans-Pacific Partnership trade accord. TPP eliminated as many as 18,000 tariffs on U.S. exports
.. focused on protecting what we do best — high-value-added manufacturing and intellectual property.
.. China was not in TPP. It was a coalition built, in part, to pressure Beijing into fairer market access, by our rules. Trump just gave it up for free.
.. “Since you like your trade rules so much, we’re going to copy them for your companies operating in America: 25 percent tariffs on your cars, and your tech companies that open here have to joint venture and share intellectual property with a U.S. partner — and store all their data on U.S. servers.”
.. Having a really tough trade negotiation with China on manufacturing and high technology, but doing it in secret, makes sense to me.
Starting a public trade war with our allies over aluminum and steel that raises the costs for our manufacturers, that doesn’t protect our growth industries and that loses allies that we need to deal with China makes absolutely no sense.
.. We needed to be, and still need to be, much more serious, and generous, about creating “wage insurance” and community reinvestment policies for people and places whose employers are suddenly wiped out by a trade shock.
.. tax incentives, Pell grants, community colleges — to create the conditions for every American to be constantly upgrading skills
.. Too much of the economic discussion of late “has been focused on the 1 percent versus the 99 percent,” observed Autor. “It’s become a kind of ‘inequality porn’
.. You lose sight of the fact that there is a dramatic rise in the economic return to tangibly acquiring skills — skills that are available and should be within everyone’s reach.”
.. The lack of real meritocracy in our country today, he added, “is not about the returns to realized skills. It is about the inequality in the ability to acquire those skills.
.. If you get educated in America today, and have a good work ethic, you are going to be rewarded.’
.. What does education do? It gives you a skill set and enables you to adapt to change better.
And cities and towns anchored by universities tend to reinvent themselves more easily; they’re engines of adaptation.