Corporate China is Bushworld
More than was true of the Soviet Union, China's collusion with U.S. capitalism is overt. PRESCOTT BUSH JR. is the acknowledged "Rainmaker" of China. Our rapatious capitalists love dictatorships, love oppressed, desperate labor, love U.S. loan guarantees.
https://excellentrap.wordpress.com/2015/05/11/china-the-bush-family-midd...
CHINA & THE BUSH FAMILY: MIDDLE KINGDOM RAINMAKERS
MAY 11, 2015
The Bush family: Middle Kingdom rainmakers
By Zach Coleman… Prescott Bush Jr:
… Now 81, Prescott Bush still travels to China two to four times a year…Prescott Bush Resources, his consulting company, has put together more than 30 joint ventures in China since 1978, according to the website of Global Access, a US consulting company active in China, which retains Prescott as chairman of its advisory board. “Mr [Prescott] Bush has also facilitated meetings and approvals at the highest levels of the Chinese government,” the site adds in its biography…
Prescott capitalized explicitly on the family tie-in by forming the US-China Chamber of Commerce in 1993 after serving on its predecessor, the Hong Kong-US Business Council, during his brother’s presidency.
“My brother, George, has been instrumental in the development of US and China relations since 1974,” he wrote in his letter to prospective members. The chamber pitches itself as a networking hub, which “provides the business communities in both countries with direct access to leading business people and government officials who are important in their business development efforts”.
Members of the chamber’s “Chairman’s Circle” include US agribusiness giant Archer Daniels Midland (ADM) and Wanxiang America, whose parent company markets products made in China to US customers. ADM and Wanxiang are also among the China clients listed on Prescott’s corporate biographies, which also typically mention Norinco, Anheuser-Busch and China National Cereals, Oils & Foodstuffs Import & Export Corp (Cofco)...
Norinco has operated under a cloud of suspicion in the US for years because of its links to the Chinese military and a case involving the smuggling of thousands of Norinco AK-47 assault rifles into the US in 1996. The Bush Jr administration last month slapped new sanctions on Norinco for its Iranian activities, which involved shipping missile technologies to Iran.
By contrast, as president, Bush Sr granted a “national interest” waiver to allow a deal to proceed for shipping $300 million of Hughes Aircraft satellite equipment to China in December 1989, overriding sanctions imposed by Congress a month before in response to the Tiananmen Square incident – regarded as a massacre of peaceful demonstrators by most observers. Prescott had visited China just before his brother that February and returned weeks after the Tiananmen violence for talks with officials on several deals, including one for a US company pitching a satellite communications network that would utilize the Hughes equipment...
Comments
Neil Bush
I love the similarity here to Hunter Biden's saga. Poor old Joe Biden, just doing business as usual and getting slammed for it.
George Herbert Walker Bush
W
China and America
I find it amusing and ironic that the vaunted "Chinese miracle" was brought about by US consumer passion for cheap big-screen TVs and other cheap goods financed by trillions of dollars of US debt funded by China using American consumer's hard-earned dollars.
It's like a giant Ponzi scheme that transfers up to $500 billion per year to China, without which they'd still be a 3rd world cesspool and some of America's billionaires and rich corporations would be impoverished paupers.
I find it ironic and amusing that Americans are praising China for growth underwritten by that giant Ponzi scheme, portions of which fund the arms race between the US and China.
And I find it sad that the debt created by ours and previous generations' lust for cheap goods must someday be repaid by our progeny in one way or another.
How much did the US sell to 3rd world cesspools
in return for their cheap natural resources and labor? There was a time the US sold cars, washing machines, blue jeans, cotton goods like t-shirts and underwear, records, record players, radios, TV's, movies, etc., etc., and ended up becoming the richest nation on the face of the earth. We sold a pair or two of blue jeans for a ton of bauxite or 500 pounds of raw rubber and then sold them tires, pots and pans, and radios at a healthy (for America) price. This wasn't a ponzi scheme - it was a good old fashioned Company Store just like poor American workers shopped at in the day.
But times have changed. Those cesspool countries have real human beings not much different from us. Same emotions, hopes, dreams and pains that an American has. They want the same standard of living and they will work very hard to achieve it.
BTW, to calculate the trade deficit you have to subtract exports to China.
Historically, I doubt China has yet to come close in taking more from America than America took from China in the last 200 years.
I see the US government is determined to destroy the high tech industry in America. It's way to late to cut off China. They have the ability to design and produce most of these goods domestically just like Huawei can now source all their chips outside of the US. Any trade war in high tech will eventually hurt the US more. China is now pumping out way more technicians and engineers from it's universities than the US is doing. China is doing nothing that the US has not been doing for 150 years.
What's that saying? "Cut of your nose to spite your face."
CB, I have been following
as much as I can of the debate here over whether China is our arch enemy or a force for improvement, and I agree with your positions, learn from your references, and vote in support of your comments virtually every time I read them. You're incredible, and you're credible.
I think I just want to point out the corporate element of the Chinese rise to manufacturing power because it seems like our media pretends it doesn't exist, as if all our socks and underwear just vanished and re-emerged in an act of theft by China. How fiendish of China to steal our manufacturing base!
Manufacturing base...
Our manufacturing base wasn't stolen. It was given away by greedy corporations, fueled by consumer acceptance of cheaper goods, and facilitated by bribed politicians. The middle and lower classes are paying the price for the loss of manufacturing jobs.
And yet you're blaming Americans
for something that they had no control over. Again. You posted this comment in another essay here.
And then you look at what actually happened..
WE did not do that. The corporations did on Wall Street's orders because they insisted profits came before all else. Where were we suppose to buy American products from if this country's manufacturing sector was sent overseas? I remember when products sold here lasted much longer than the cheap crap that comes from wherever it's made now. My coffee machines used to be made of more than just plastic crap. But then companies offshored their factories and I now have to buy a new one every year because I can't afford to buy one that lasts longer at the time of purchase. This is not my fault. And not all products come from China.
There were problems with running a campaign of Joy while committing a genocide? Who could have guessed?
Harris is unburdened of speaking going forward.
Wow.
Please see my comments here: https://caucus99percent.com/comment/487858#comment-487858 And here: https://caucus99percent.com/comment/487936#comment-487936
BTW
Trade Deficit = Exports - Imports. The deficit in 2019 was $345.6 billion, the lowest in 6 years thanks to the tariffs.
Ahistorical comment there, CB
You're confusing the United States with Britain. Britain was the top extractive colonial power in China in the 18th, 19th, and part of the 20th centuries. The US's primary imports from China during the 200 years prior to 1979 were workers (coolies) and a bit of tea and silk.
The Americans were a lot more involved
than "a bit of tea and silk". It is estimated the US received about 10% of the profits from the opium trade in China. The British had considerable military expenses to cover.
Here's the story of just one American opium trader - Warren Delano, grandfather of FDR. Forbes was another family that got wealthy from the opium trade.
Another thing that hit China bad during this time was the country could not produce textiles as cheap as the Americans could with their machinery. All textiles in China were hand woven. This left a huge number of Chinese unemployed.
Nice job of moving the goalposts.
The discussion was centered on what was exported FROM China, not what was imported into it. If you want to discuss the execrable opium trade, open another discussion. Don't switch topic midstream in this one.
We are talking about trade between two countries
It's a two way street. If you want to discuss why there is an imbalance you need to understand the historical background between the two nations. The US and China have had an extremely troubled relationship that has been mostly negative towards China up until the 1980's
In 1979 China created four special economic zones and opened their country to foreign in vestment. Most of the foreign investment came from Hong Kong at 80% (Hong Kong bought it's way back to China). The US supplied 7%.
China's largest trading partner
iswas the EU followed by the US. The ASEAN countries will most likely surpass the US this year leaving the US in third place. With twice the population and double the growth rate of the US, the ASEAN will continue to boost China's GDP at an even faster rate. Waging a trade war with China which will only hurt the US. For items other than services, the US have priced themselves out of the market. Manufacturing will not be coming back. BTW, it was the US that originally promoted free trade with China. You reap what you sow.When you view the following chart, take note the curve also represents the increasing fortunes of the Chinese people.
Chinese workers were essential
in building America's transcontinental railroad.
(Side note: Calling Chinese or East Indians 'coolies' is now considered disparaging and offensive - equivalent to calling blacks 'ni**ers'.)
Missed the parentheses, eh?
You really are a trip, dude or dudette. Of course "coolie" is pejorative. That's why I put it in parentheses.
And the "coolie" system was a European innovation, not American. According to Britannica,
I didn't say it was an American term
I'm just wondering why you used it to describe Chinese workers in the US. There is a long and sordid history of anti Chinese discrimination in the US which is again rearing it's ugly face at this time.
Watch Chinese discrimination skyrocket with the release of the National Republican Senatorial Campaign Committee Corona Big Book