Team News Riveting
Of many twists and turns in the American Presidential election now not far away, the hot topic of business with China has emerged as a major issue.
President Donald Trump and his campaign had castigated Democratic nominee Joe Biden “as soft on China”, pointing to his son’s business dealings in the country.
Senate Republicans produced a report asserting, among other things, that Biden’s son Hunter “opened a bank account” with a Chinese businessman. Biden’s aides explored Trump’s connection and came out with startling revelations.
Trump’s own business history, they said, was filled with overseas financial deals, and some have involved the Chinese state. He spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company.
They claimed that China was one of the three foreign nations – the others are Britain and Ireland – where Trump maintains a bank account.
Soon after winning the 2016 election, Trump reported selling a penthouse in one of his Manhattan buildings for $15.8-million (about Rs 116 crore) to a Chinese-American businesswoman named Xiao Yan Chen. The unit previously occupied by Ivanka Trump and her husband, Jared Kushner was disposed of in an off-market transaction. Chen runs an international consulting firm and reportedly has high-level connections to government and political elites in China.
