The Chinese communist regime exerted influence over the United States for decades through its “old friends” in Wall Street, but this scheme was disrupted by President Donald Trump’s election in 2016, a Chinese professor recently revealed at a seminar.
Over the past 30 to 40 years, the Chinese Communist Party (CCP) “took advantage of the core power circle in the United States,” said Di Dongsheng, associate dean of the School of International Studies at the Renmin University of China in Beijing, in a speech given at an event in Shanghai, live-streamed on Chinese online video-sharing platform Guan Video on Nov. 28. The clip has since gone viral, and the original video has been deleted.
Di was referring to Wall Street, a sector that started exerting “a very strong influence on U.S. domestic and foreign affairs in the 1970s.”
“So we figured out our path and those we could depend on,” he said.
……“More importantly, starting in 2016, Wall Street had no influence on Trump,” he said, citing disputes the former businessman had with Wall Street financiers.
However, with a potential Joe Biden administration, Beijing may once again rely on its powerful U.S. backers, the professor said.
“The traditional elites, political elites, and the establishment have a very close relationship with Wall Street,” Di said.
He then referred to allegations that Joe Biden’s son, Hunter Biden, has extensive ties with the Chinese regime and other foreign governments through investments and business dealings.
In October, Tony Bobulinski, Hunter’s former business partner, revealed that the younger Biden in early 2017 asked him to execute a deal with the now-bankrupt Chinese energy conglomerate CEFC China Energy Company.
Bobulinski served as CEO of SinoHawk LLC, a business entity created to formalize the Biden–CEFC investment partnership with the Chinese company. SinoHawk was supposed to have been initially funded with $10 million, which would then grow into billions in investment funds, Bobulinski said at the time. Then-chairman of CEFC Ye Jianming had deep ties with high-level CCP officials.
Di said: “Who helped him [Hunter] build the funds? You understand? There are transactions involved.”
……In 2016, then-candidate Trump campaigned on a tough-on-China platform, focusing on the regime’s unfair trade practices that have cost thousands of American manufacturing jobs. As president, Trump in 2018 launched a trade war, slapping billions worth of tariffs on a range of Chinese imports.
In reference to the trade war, Di asked, “So why are we having trouble with Trump, when we were able to handle all kinds of problems between China and the United States from 1992 to 2016?”
……Following the trade war, many American industrial sectors began to shy away from Chinese investments, but Wall Street has deepened its business ties after Beijing’s moves to open up the financial sector.
White House trade adviser Peter Navarro, in an October Interview with The Epoch Times, described Wall Street as “writ large a sociopath,” in response to a question about Wall Street’s continued ramp-up of investments in China.
“They have no morals or patriotism. It’s all about the money,” Navarro said.
Meanwhile, global stock index providers have come under increasing scrutiny over their inclusion of Chinese stocks—with some Chinese firms being tied to the regime’s military or having aided its human rights abuses. Because many investment and pension funds track these indices, it means that Americans are unwittingly financing the CCP’s malign ambitions, U.S. officials have warned.
In November, Trump issued an executive order barring U.S. investments in Chinese companies deemed by the Pentagon to be “owned or controlled by” the Chinese military, to block the flow of American capital to fund the CCP’s military goals. The ban is to take effect in early January 2021. U.S. investors have until November 2021 to divest their securities.
Di had better watch himself. The ChiCom regime doesn’t take kindly to criticism.