Oh … well that makes sense:
“Why is Joe Biden so warm toward China?
Last week, Biden raised eyebrows when he shrugged off concerns over the China threat. “Come on, man,” Biden said. “I mean, you know, they’re not bad folks, folks. But guess what, they’re not competition for us.”
Perhaps Biden’s insouciant attitude toward the Chinese government has to do with the fact that his family does not consider them competitors but business partners.
In 2013, then-Vice President Joe Biden and his son Hunter Biden flew aboard Air Force Two to China. Less than two weeks later, Hunter Biden’s firm inked a $1?billion private equity deal with a subsidiary of the Chinese government’s Bank of China. The deal was later expanded to $1.5?billion. In short, the Chinese government funded a business that it co-owned along with the son of a sitting vice president.
If it sounds shocking that a vice president would shape US-China policy as his son — who has scant experience in private equity — clinched a coveted billion-dollar deal with an arm of the Chinese government, that’s because it is. …”
Joe Biden was Vice President for 8 years. He was a US Senator from Delaware for 36 years. He even spent 4 years as the chairman of the US Senate Foreign Relations Committee.
This really isn’t an “I don’t know because I am a clueless out of touch Boomer” situation. It’s more like “I do know better because I am a veteran Washington swamp creature” situation.
Note: We’re pro-China on this website for a variety of reasons which have nothing to do with money. Basically, we support international peace and prosperity and admire the Chinese system of avoiding dumb polarizing social issues so that everyone can focus on getting rich. We think it is the West that is burdened with the antiquated liberal system of mass immigration, transgenderism, political correctness, etc. You could even say our pro-Chinese “racism” has fed into our support of Yang.
One question I have is in regard to free trade and the UBI. A primary criticism of free trade with China is a loss of manufacturing jobs and the downward pressure on wages. But if a UBI is implemented and these lost jobs are not as much of a concern, would it then be in our best interest to receive the cheaper goods through free trade? Or should we still engage in economic nationalism like Trump is doing?
I’ve thought about it a lot recently.
It is important to remember that tariffs are just one of the tools of developmental capitalism. There is no reason why what worked in the 19th century and 20th century will be as effective in the 21st century.
It could be that free-trade is highly disruptive, makes the global economy more efficient but imposes staggering costs on First World labor while concentrating the gains of a global division of labor in the pockets of wealthy capitalists. UBI would have the opposite healing impact and would offset many of those costs.
I would like to sit down and rethink our trade policy knowing what I know now which is that both the United States and China are evolving toward a world where automation has destroyed jobs. I’m honestly not sure where tariffs fit into this picture.
You seem to think that automation is a Utopian outcome, and that it’s going to happen tomorrow. It isn’t, it’s not, and the misery and violence as a result of Humans being made obsolete by machines is going to be beyond ANYTHING that’s happened before.
It’s more like I see it solving one set of problems while creating a new set of problems. I’ve given the example of how we have gone from famine to obesity in the age of the supermarket. The problem used to be we didn’t have enough to eat. Now, the problem is what to eat to stay healthy.
How on earth can any American be pro China? China has been using mercantilism to impoverish America. China has been using hundred of billions of dollars from the trade surplus with America to modernize its military, which is a real threat to America.