When queried by Los Angeles Times reporters about his investments in China, Blum announced he would donate his profits from China investments to his Himalayan charity. Maybe that is what you want. Sometimes when Joe Biden offers yarns about his childhood, I think of a Woody Allen bit from his stand-up days in which the comic tells the story of being invited to a Halloween party while visiting the Deep South in the early 1960s. Feinstein also arranged for discussions with high-level Chinese dignitaries on Capitol Hill, at China’s behest, when in 1996, China conducted menacing missile tests near Taiwan. Campbell asked. I still recall the lectures half a century ago of John K. Fairbank, widely regarded as a "dean of Sinologists," informing me that the Chicago, Burlington & Quincy Railroad ("The Burlington Route"), a system I had traveled on extensively as a child, was built in part with capital coming from a major comprador in Canton (called Guangzhou by today's China). Britain conveniently was able to produce opium in its Indian colony and sell it to the Chinese, who sought escape from their misery. Tough measures would only "inflame Beijing's insecurities" and turn it away from Western-style reform, she told the Senate.
The idea that there was something inherently virtuous about helping Chinese companies make money at the expense of their American rivals became so prevalent in Washington that it barely raised eyebrows when one-time Democratic vice-presidential candidate Joe Lieberman, whose political brand was his supposedly unimpeachable rectitude, joined former Senate colleague Norm Coleman, a Republican, to lobby for ZTE, a Chinese telecom firm with reported ties to the Chinese intelligence services and military. Venture capital experts said Blum's joint venture, Newbridge Capital, could expect hefty fees for managing the investment fund - as much as $17 million per year. The information undercuts Feinstein's election-year claims about Blum selling off his China holdings. Notably, in the 1993-1994 period, while Feinstein was advocating for increasing trade and participating in extensive meetings with Chinese leaders in Beijing at then-President Jiang’s invitation with her husband in tow, Blum was seeking to raise up to $150 million for an Asia-focused fund for his firm, Newbridge Capital. But according to Feinstein's May 2000 disclosure statement, Blum holds a stake of more than $1 million in the Newbridge Asia II limited partnership fund.
. ", The issue flared again in 1997, when Feinstein was considering a run for. In October, USA Today listed Feinstein as the sixth-richest member of Congress, with a net worth of $58.5 million — a sum that vastly understates her actual wealth. Do they stand to benefit from China's entry into the World Trade Organization.".
is doing much better than Europe right now in... 'Listening to a bunch of racists': SF school meeting... Republicans say unofficial ballot boxes in Calif.... Police ID suspect in theft of Maki the lemur from the San Francisco Zoo, Welcome to the Lost Sierra: An hour away from Tahoe is a corner of California history, Photo shows how coyotes in SF have become used to humans, The ghost who haunts the smallest park in San Francisco changed America, Newly constructed San Rafael home, billed as 'fire safe,' asks $5M, Medical experts bristle at SF's new playground restrictions, Two dead, three injured in Friday night shootings, Test your cloth, N95, or KN95 mask at home, Our readers love this $5.45 tactical spork, CDC NIOSH-approved N95 masks are $13 per 2-pack. Founded in 1996 with money from China's Internal Trade Ministry, it has sought to jump-start Internet use and e-commerce in China. Among them was the Newbridge Capital investment firm, described in a press release as an "emerging markets private equity fund" jointly founded by Blum's bank and Texas Pacific Group, a firm chaired by David Bonderman, a Fort Worth investment banker and Feinstein political donor. President Xi’s 19th Party Congress two weeks ago called for stronger, bigger state companies along with more support for private firms. Blum founded the American Himalayan Foundation, aimed at helping the people and the environment of Tibet and Nepal. Get Jim Geraghty’s tour of the political news of the day. In the CCP-driven coronavirus pandemic, she has also participated in a CCP propaganda campaign by expressing fears about a wave of racism against Chinese people, while issuing a press release warning of concerns about misinformation—but not of the kind emanating from the CCP.
Not by conventional models of markets and economic growth.
He held a $300 million stake in Northwest Airlines when it operated the only nonstop service from the United States to cities in China. In May, Feinstein's office "said Mr. Blum had divested all investments in mainland China, and that is correct," Blum's spokesman Owen Blicksilver wrote in an e-mail from New York.
His firm’s largest holding when his China-linked investments began to draw scrutiny in 1997 was Northwest Airlines.
“We hold China as a potential trading partner, as a country that has pulled tens of millions of people out of poverty in a short period of time, and as a country growing into a respectable nation amongst other nations,” Feinstein said, in comments first reported by the Washington Free Beacon.
Journalists from Feinstein's home state's two largest media markets, Los Angeles and San Francisco, covered that relationship thoroughly and often quite skeptically throughout the, The idea that there was something inherently virtuous about helping Chinese companies make money at the expense of their American rivals became so prevalent in Washington that it barely raised eyebrows when one-time Democratic vice-presidential candidate Joe Lieberman, whose political brand was his supposedly unimpeachable rectitude, joined former Senate colleague Norm Coleman, a Republican, to, « Michael Moore stumbles upon the truth about so-called 'green' energy, Even during a crisis, Americans demonstrate their independence ». Feinstein’s Real Insider Trading Scandal Is Selling America Out To China, dumping several million dollars’ worth of stock, established a “sister city” relationship with Shanghai, Newbridge Capital purchased an 18 percent stake in Shenzhen Development Bank, arguing against tying MFN status to human rights, downplay and alibi the Tiananmen Square massacre, arranged for discussions with high-level Chinese dignitaries, accepting hundreds of millions of dollars from the Chinese government. Jeffrey A. Friedberg, A VIEW FROM THE STREET: Quick, impolite, and to the point.... Are we looking in the right places for voter enthusiasm? In 2004, Newbridge Capital purchased an 18 percent stake in Shenzhen Development Bank, the first time a foreign company took effective control of a Chinese lender.
The San Mateo dot-com does little business in China, he said. Get Kevin D. Williamson’s newsletter delivered to your inbox each Tuesday. According to SEC records, the Newbridge Asia II limited partnership owns 15 percent of IAsiaworks' stock, worth about $62 million. I don't know what I can do to prove it to people like you. These are the groceries that are cheaper to buy online. Daniel Carroll, a Newbridge managing director, was named to the firm's board. "He's a businessman and he has a right to do business and he's never done anything wrong," the spokesman said. China also learned the hard way about the uses of debt to render a country helpless. On Sunday night, a mob of nearly 300 people marched into a Portland city park, strapped chains around statues of Teddy Roosevelt and Abraham Lincoln, and pulled them to the ground. Lee Smith has done us all a service by documenting the cultivation of China's most valuable compradors in the USA, Senator Dianne Feinstein and her husband. Outdoor dining in this SF neighborhood scared me. Gary Ruskin of the nonpartisan Congressional Accountability Project of Washington, D.C., said officials owe it to voters to be forthcoming about their financial affairs - and those of their spouses. The Wuhan virus has ended the game China has been playing for the past three decades to rise from Marxist-rooted poverty to the world's biggest manufacturer. Richard blum china. It succeeded at this task so brilliantly that it took a pandemic health catastrophe to even begin to question the legitimacy of these modern compradors.
Nevertheless, details of the transactions as described by Blum seem at odds with Feinstein's assertions.
“I deeply believe that.”. When Feinstein was first elected to the Senate in 1992, Blum's interests in China amounted to less than $500,000. Via a spokesman, the fi. A: Blum has … . China Civilink Ltd., is a Web hosting company. Alex Honnold on His Epic El Capitan Triumph, Ascending China’s Beliefs on Trade, Economic Strategy, Why Climate Change Hits Hardest at the Poor, New Brookings Podcasts: U.S. Foreign Aid Under Challenge.
Blum said his China investments comprised only a small percentage of his bank's business. is immediately transferring it to a charitable trust," Blum's spokesman said.
It passed by a wide margin. Feinstein’s husband Richard Blum has held various business investments in China over the years. The far more consequential story is Sen. Dianne Feinstein’s participation in richly profiting from the U.S.-China policy for which she has lobbied for 40 years. Blum and Feinstein "have divested of any holdings in mainland China," Kuwata told the San Jose Mercury News, saying Blum had.
Her Link To China Is “Much More Than An Alleged Office Spy….”. NR Daily is delivered right to you every afternoon.
In March, a combine of venture capital firms including Newbridge Asia pumped $30 million into Asiacontent.com. Feinstein responded through her spokesman Kuwata, who gave a series of interviews in which he said Campbell was wrong because Blum had already dumped all China holdings. Blum also said he had invested an unspecified amount in Zhongxing-Suntek Data Communications, a joint venture involving Zhongxing Telecom (ZTE), the state-owned telecommunications manufacturer. Blum a longtime investment banker born Richard Charles Blum on July 31, 1935. Feinstein has adamantly denied a conflict of interest, saying she had erected a "firewall" between her office and her husband's career. Remarks, By The Prescient, All-Seeing, All-Knowing, Jeffrey A. Friedberg, 8/8/2018 From Ben Weingarten /THE FEDERALIST EXCERPT: …This Is About Much More than a Chinese Spy Let us review the facts here. In 2002, Newbridge was negotiating to acquire 20% of Shenzhen Development Bank. Ben Weingarten is a Federalist senior contributor, senior fellow at the London Center for Policy Research, and fellow at the Claremont Institute. In 1999, when Newbridge Capital closed the $400 million Newbridge Asia II fund to new investors, it issued a press release saying it would make "private and public equity investments in Greater China (the PRC, Hong Kong and Taiwan), Japan, Korea and Southeast Asia.".