Donald Trump’s Pick for Fund-Raiser Is Rife With Contradictions

Wall Street has been agog since last Thursday, when Donald Trump announced that Steven Mnuchin — who made his fortune at Goldman Sachs, worked for a firm funded by George Soros, and donated to Hillary Clinton — would be responsible for helping him raise $1 billion for Republicans and his own campaign.

.. Despite what Mr. Mnuchin said was a personal friendship of 15 years, Mr. Trump has attacked both Mr. Mnuchin’s investment company — suing it in 2008 over a building deal — as well as Goldman Sachs, the Democratic Party and other institutions Mr. Mnuchin has supported.

.. Mr. Mnuchin’s new job with Mr. Trump is filled with seeming contradictions. Mr. Trump spent much of his campaign attacking Goldman Sachs, using the bank to malign Ted Cruz’s wife, Heidi, who is an investment manager there, and Mrs. Clinton, who famously received rich honorariums for giving speeches there. “I know the guys at Goldman Sachs,” Mr. Trump said during one debate, poking at Mr. Cruz. “They have total, total control over him. Just like they have total control over Hillary Clinton,” he declared.

.. Indeed, many of the nation’s largest banks — including Goldman Sachs — haven’t done business with Mr. Trump in years. Among the lenders on Mr. Trump’s disclosure form, only Merrill Lynch, among the country’s largest lenders, is listed for a loan made in 1993 and 1994. Since then, smaller banks or foreign institutions like UBS and Deutsche Bank are listed as his biggest lenders.

.. Mr. Trump sued the lenders, including Dune, in 2008 to extend the terms of the loan on the basis of “unprecedented financial crisis in the credit markets.” The suit was later settled.

Why China’s Not Afraid of Donald J. Trump

No matter how much he trashes the country, the Chinese media love The Donald.

Even as China’s government has refused to comment on Trump’s diatribes, a survey of both official state media and social media networks reveals that a growing contingent of Chinese believe the mogul’s potential presidency could actually end up benefiting China—perhaps more so than a President Hillary Clinton, whose criticism of the country’s human rights record infuriates Chinese leaders. Some Chinese admire Trump’s glitzy businesses, big-name brand and candid personality. Others genuinely think the candidate’s “America First” foreign policy positions would give China the upper hand in Sino-American relations and allow more room for China to assert itself on the world stage.

.. “Trump is very, very popular among Chinese Internet users,” says Kecheng Fang, a former reporter in China who now researches Chinese media at the University of Pennsylvania.

.. Much of the Trump support in China boils down to his reputation overseas as a shrewd entrepreneur—an image that surely resonates with China’s plutocrats and aspirers. (“China today has this obsession with successful businessmen,” Shen notes.)

.. Beyond just Trump’s brand, many Chinese believe his business acumen would translate into political pragmatism on matters of national security and foreign policy—which would play to China’s advantage. Trump has repeatedly questioned the wisdom of maintaining American military bases and warships in the region, arguing that they cost the United States money while allowing allies like Japan to mooch off American support in their squabbles with China in the East and South China seas.

.. A Global Times op-ed published a day after Trump’s Times interview reads, “It is hence predictable that if Trump is elected president, he will choose to cooperate with China, from which Japan will fail to benefit.”

.. An article published last month in the People’s Daily, the Chinese Communist Party’s official newspaper, noted that Trump’s snubs toward America’s Asian allies, namely Japan and South Korea, will allow China to become the dominant military power in the Pacific. Because the South China Sea isn’t oil rich, a Trump-led military would likely turn its attention away from Asia and toward the Middle East, says Shen, who last month published a widely circulated article in The Paper headlined “Do Not Rush to Say Trump Is Crazy.” “It seems like [Trump] only wants to get involved in something militarily when there is a business benefit,” Shen argues.

.. On economic issues, Trump has been much more aggressively anti-China; his tax and anti-currency manipulation proposals have even raised the prospect of a trade war. But many Chinese observers see these “tough” positions as bluster—part of Trump’s appeal to Republican voters at home—and believe he would soften his stance once in office.

.. The “pivot to Asia”—a push during Clinton’s tenure as secretary of state to increase America’s military presence and advance human rights in the region—has long been a source of anxiety for the Chinese, who see it as an attempt by the United States to control and suppress China’s rise. That policy, which Chinese associate closely with Clinton, has caused “dissatisfaction among Chinese netizens,

..

“Trump and [Bernie] Sanders’ rise clearly shows that Americans have lost confidence in their political system,” the author wrote.

Which is only a good thing for China. “Our nation’s strength is growing, while America’s is declining,” a recent article in the tabloid reads.

 

Clinton’s Thinking Vs. Trump’s Feelings

In the political arena, you can usually tell System 1 candidates by asking a single question: Do they seem to love running for president? Such candidates can also be polarizing. They might appeal to the System 1 of a large part of the electorate — but turn off another large part.

.. But in its entire history, the U. S. has never had a serious System 1 candidate like Donald Trump. Much of his success lies in the automatic favorable response that he triggers, at least within a substantial part of the Republican Party. Whether or not you’re for him, he’s funny and he’s quick. When he’s hit, he hits back. He’s punishing. System 1 likes that.
.. There’s an old adage about speakers: You won’t remember what they said, but you’ll never forget how they made you feel. Trump knows that in his bones. He gives his supporters — and they are growing — a terrific feeling of safety and security, along with a laugh and a smile.
.. But System 2 candidates have serious challenges of their own. Voters like to fall in love with presidential candidates, at least a little bit. System 2 candidates need to find a way to appeal on an emotional level. George H.W. Bush did that in 1988, with his reference to “a kinder, gentler nation.”
..  But System 2 candidates beware: In politics, as in romance, System 1 can be immensely powerful.