Joe bans investment in China firms that bankrolled Hunter

FPI / June 9, 2021

Analysis by Eric Clary

A recent executive order signed by President Biden expands upon a Trump-era order that bans U.S. “own or control” in PLA-linked Chinese companies. Among the Military-Civil Fusion companies listed are the recipients of millions of dollars in investments from Hunter Biden and Bill Gates, according to The National Pulse.

The order signed by Biden on June 3, includes an additional 28 companies raising the number to 59 Chinese firms, “that support the PRC’s [People’s Republic of China] military, intelligence, and other security research and development programs; or into Chinese companies that develop or use Chinese surveillance technology to facilitate repression or serious human rights abuse.”

But, in a somewhat perplexing move, some of the companies listed have direct ties to the Biden Administration. Natalie Winters of The National Pulse states, “BHR Partners – the private equity firm where Hunter Biden served as a director since 2013 – was a $10 million cornerstone investor in CGN’s initial public offering (IPO). Occurring in 2014, the IPO was the second largest of the entire year, valued at over $3 billion.”

China General Nuclear Power (CGN) has been under scrutiny since one of its U.S. based engineers pleaded guilty in 2017 to violating the Atomic Energy Act. CGN consultant Szuhsiung Ho was sentenced to 24 months for espionage related activities. A DOJ release contends, “Under the direction of CGNPC, Ho also identified, recruited and executed contracts with U.S.-based experts from the civil nuclear industry who provided technical assistance related to the development and production of special nuclear material for CGNPC in China.” The National Pulse claims Hunter Biden reportedly retains a sizable stake in BHR Partners which still lists CGN as part of its portfolio.

Hunter Biden isn’t the only one capitalizing on Chinese nuclear ambitions. In one of his many China-ventures, billionaire Bill Gates, partnered with China National Nuclear Corporation (CNNC) “to complete the Traveling Wave Reactor (TWR) design and commercialize the TWR technology.” With Trump’s 2016 election, the Gates founded Terrapower-CNNC endeavor was discontinued due to “policy changes here in the U.S.” and will presumably remain suspended after Biden expanded the Trump policy.

Financial ties between the American political and business elites to Chinese state-owned enterprises have influenced American policy for decades and, as The World Tribune reports, could explain why Peter Meijer who ran as a MAGA candidate, was one of ten Republicans who voted to impeach Trump earlier this year. In a widely publicized talk given by scholar Di Dongsheng, the professor explained, “In plain and simple language, during the last three to four decades, we used the core circle inside America’s real power. As I said, the Wall Street had a very profound influence over America’s domestic and foreign affairs since the 1970s. We used to heavily rely on them.”

After 2016, Di continued, “Wall Street couldn’t control Trump, because, awkwardly, there was a soft breach of contract between them, which made them hostile to each other.”

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