No Minister

American Billionaires go long on China

This doesn’t shock me of course, but it does sadden me that three men who owe almost everything they’ve got to the American system of capitalism and democracy could be so ignorant of that fact, to the extent that they don’t seem to care if it crashes.

In this case it’s three billionaires in particular, but given the circles they run in you can bet there’s plenty more where they came from.

Charlie Munger

First up is one Charlie Munger, Berkshire Hathaway Vice Chairman (net worth $US 2 billion):

The Chinese Communists did the right thing. They just called in Jack Ma and said, “You aren’t gonna do it, sonny.” 

He’s actually talking about Chinese billionaire and entreprenueur Jack Ma, a former schoolteacher who co-founded the gigantic Albaba e-commerce firm. To be fair, Munger does go on to say the following:

I don’t want the, all of the Chinese system, but I certainly would like to have the financial part of it in my own country.

Thank goodness for that much. However, this genius apparently cannot see that you don’t get to have one part of such a system without having the rest. Munger also doesn’t seem to have noticed that if the CCP can take out Jake Ma (net worth $US 50 billion) then they could take out Munger and company too were he to step into areas of disagreement with the CCP.

Michael Bloomberg

Then there’s Michael Bloomberg, former mayor of NYC and 2020 Democrat Presidential candidate (net worth $US 60 billion):

“The Communist Party wants to stay in power in China, and they listen to the public . . . Xi Jinping is not a dictator.”

If I recall my history correctly even Stalin listened to his critics and would occasionally follow their recommendations – while at the same time putting extra eyes on them, readying them for the counter-revolutionary trials if he felt like it.

Then there’s the richest of the three, Bill Gates ($US 150 billion) giving a thumbs up to China’s Covid-19 response:

“What China did is helping the rest of the world.”

“China did a lot of things right in the beginning,”

China must be over the moon about such things. Who needs the Peoples Liberation Army, Navy and Air Force, or even the Confucius Institutes to help “educate” American youth about China, when you’ve got people like this on your side.

To have the most effective critics of America placed not in Beijing but in America itself; in corporate boardrooms, campuses, newsrooms, Hollywood, Wall Street, and now even the Pentagon. That’s one hell of an achievement and the funny thing is that the Chinese really had very little to do with it.

But they certainly are taking advantage of it:

The opening salvo in this all-out campaign was fired at the U.S.-China summit in Alaska on March 19. The Chinese delegation, besides publicly humiliating the Biden administration, used the summit to accuse the U.S. of “deep-seated” racism. Chinese representatives referred to the propaganda put out by the BLM movement to accuse the U.S. of ‘slaughtering’ Black Americans.

The same day, China used the floor of the U.N. General Assembly to make similar claims. China’s deputy U.N. Ambassador Dai Bing accused the U.S of “deep-seated problems of racial discrimination, social injustice and police brutality.”

It’s no surprise that US Secretary of State Blinken sat silently through that Alaskan beating by the Chinese, for what response could he actually make to accusations that his own Democrat Party, indeed his own fucking President, had made about his own nation.

Many of the ideas adopted by the Alinsky-inspired New Left in the 60s and 70s came from the violent Cultural Revolution instigated by Mao Zedong in China between 1966-76. Thus ‘political correctness’ is not a woke concept developed by Western academics in Princeton or Harvard, but a notion rooted in the doctrine of Maoism. Today’s woke mob derives its intolerant instincts to ban ideas, cleanse the language, or purge its opponents from their ideology steeped on genocidal Marxism and Maoism.

Thus comes the full circle.

Still, throughout history, smart people have been notorious for making very dumb mistakes, for there is a difference between being smart and being wise. As the following Spectator article by Melissa Chen points out, the CCP may have recently moved too far and too fast:

But the party’s increasing insecurity about its grip on power led China to turn inward and ultimately, with the rise of Xi Jinping who purged corruption in the politburo to preserve loyalists and removed presidential term limits, it fell back to a personality cult not seen since Mao. Steadily in the last few years and particularly since the COVID-19 pandemic, China has turned the world against it by proving itself to be an irresponsible world actor.

After a century of existence, the CCP has made a strategic mistake and played its hand too early, revealing the game and the true nature of the party. How should we respond in the next century?

That last is a question the likes of Bloomberg and company have not even asked from the perspective of 2020/21. They’re still stuck in the early 2000’s with regard to China.

Written by Tom Hunter

July 6, 2021 at 2:30 pm

One Response

Subscribe to comments with RSS.

  1. China in a lot of ways is more free enterprise than New Zealand or the UK of course

    As we are finding out the USA is run by rich oligarchs who are not above fiddling elections to put their people into positions of authority

    In the UK rail freight is run by a State Owned company of course but not the British State, the German State which is fricken hilarious when you consider how many British young men were killed and maimed to preserve the UK from German domination

    And the Brits aspire to drive German cars as well, there being no uniquely British marques left for well heeled Brits to buy

    On the other hand the Chinese auto makers are moving ahead in leaps and bounds.

    If you want to stop the rise of China there is only one way and that is to encourage people to raise large families and boys to go into engineering

    Can’t see that happening in a country that has a man on the women’s weightlifting team and thinks that is OK

    Andrei

    July 6, 2021 at 4:15 pm


Comments are closed.

%d bloggers like this: