China and the 2020 Election

On April 25, 2019, Joe Biden declared his candidacy for the Democratic presidential nomination. Seven days later, on May 3, 2019, the Chinese sent a diplomatic cable to the Trump Administration blowing up a 150-page draft agreement that had taken many months to negotiate.  The cable was riddled with reversals by China that undermined core U.S. demands.  In each of the seven chapters of the trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

A coincidence or a premeditated scenario?

Joe Biden, in his days in the Senate, was very partial to China, as he voted against revoking China’s most-favored nation status and in 2007 opposed the idea of applying any tariffs on China despite their obvious unfair trade practices.  However, it was as Vice President that he became wholly enamored with the country and its leadership.

For example, while in China, Biden, in August of 2011, defended and approved of China’s one-child policy which brutally used forced abortions to implement the law.  In the same year Biden was given the assignment, by Barack Obama, to be the point man on China due his close personal relationship with Xi Jinping, then Vice-President and heir apparent to the Presidency.  (Xi Jinping is currently President and General Secretary of the Chinese Communist Party, the most powerful figure in China’s political system).

Due solely to Joe Biden’s influence, in 2011, less than a year after starting Rosemont Seneca Partners, essentially a three-man investment firm with Chris Heinz (stepson of John Kerry), Biden’s son Hunter, who had no previous experience in private equity, was in China to explore business opportunities with Chinese state-owned enterprises.  These meetings occurred just hours before Joe Biden met with the Chinese president in Washington.  Later in the same year, Hunter had a second meeting with many of the same Chinese financial powerhouses -- just two weeks after his father, the Vice President, conducted U.S.-China strategic talks in Washington with Chinese officials.