Big Business's Leveraged Sellout to China
Plus: Facebook Courts Religious Communities, Tucker Carlson in Hungary, Fundamental Transformation Through 'Infrastructure'
Woke Capital's Deathly China Addiction
"As for this fear that foreigners will stop investing, I'm not afraid. Foreign capitalists are out to make money, and they'll never abandon a big market for the world like China." This was the response of Wang Zhen, a Chinese Communist Party (CCP) elder, to comrades apparently concerned over the blowback China might face for the Party's savagery at Tiananmen Square some 32 years ago. It could not have proven more prescient.
The CCP didn't pay a price for its malevolence then, and if America's business community has its way, it won't pay a price for its malevolence now either.
During an 18-month-and-counting period in which a CCP-controlled China most culpable for the coronavirus pandemic has made not faraway democracy protesters, but every American, to one degree or another, its victim, more than 30 business groups from the Chamber of Commerce to the Business Roundtable, covering industries from agriculture to financial services to semiconductors, are calling for fostering still-closer economic ties with China.
This is the definition of greed-induced insanity.
I’ve got the story in a new piece at Newsweek.
As I conclude:
Woke Capital seemingly need never reconcile the fact that both its Wokeism and its desire for profits may well be in conflict with its desire to do more business with Beijing.
…China has done absolutely nothing to merit further negotiations with America on anything of substance, and America's desire to enter into such negotiations will be perceived by the CCP as a weakness to be further exploited…[And] as we now know from decades-long experience, closer economic ties with the U.S. form the linchpin of the CCP's plan to bearhug us into ultimate national submission.
…Nearly 50 years into this toxic relationship, ignorance can no longer be an excuse.
What are Americans to conclude but that for too many in our business community, transacting with China has been deemed worth any cost, up to and including the very survival of the country from which those businesses have so richly benefited?
Read the whole thing here.
Separately, on this week’s NatConSquad:
Facebook Courts Religious Communities
The Media’s Meltdown over Tucker Carlson in Hungary
Biden's Budget Seeks to Remake America; and
Big Business Goes All-In for China