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Posts Tagged ‘Mitt Romney’

In Beijing, Watching Romney & Obama Debate

In America, China on 23 October 2012 at 3:14 PM

One of the benefits and perils of a multi-office role is that there’s always an office open to work from. Today is a public holiday in Hong Kong when locals spend time honouring ancestors and repairing their internment sites. That’s a perfect excuse to be in Beijing working with the dedicated team of Kreab Gavin Anderson professionals.

At 9:00 am as work got underway the large screen in the office was tuned to the USA Presidential Debate on CNN. This was the third and final such interaction between the candidates. The focus of the discussion was foreign policy.

Before action commenced we wondered aloud if China censors would block anti-China rhetoric. It’s common to watch international news broadcasts and have the screen go black when censors decide sensitive China information is being shared.

So imagine my surprise when Romney ranted against Chinese intellectual property violations – and here in Beijing we could still watch the show. Mitt described a US auto parts maker repairing defective pieces that all shared the same serial number. The parts were copied from the packaging down to the smallest detail – including hundreds of parts all with the same number.

On Day One in office Mitt Romney said he would label China a currency manipulator and would go after the country using international tribunal:

“I’ve watched year in and year out as companies have shut down and people have lost their jobs because China has not played by the same rules. In part, by holding down artificially the value of their currency, it holds down the prices of their goods,” Romney said. “It means our goods aren’t as competitive, and we lose jobs. That’s got to end. They’re making some progress. They need to make more.”

Romney also will use military to “discourage” China.

Obama also took a swing at the CHINA PIÑATA. He said complaints have been filed with the World Trade Organisation:

“China is both an adversary, but also a potential partner in the international community if it’s following the rules,” Mr. Obama said.

No matter which candidate wins, it’s clear that when election season is on, the safest vote is to attack China. Here in Beijing it’s nice to see this dialogue making it past the censor.

Romney-Obama Debate

Mitt Romney to China: “You want a trade war?”

In America, China, Public Affairs on 15 May 2012 at 2:44 PM

“You think they want to have a trade war? If you are not willing to stand up to China, you will get run over by China, and that’s what’s happened for 20 years,” Mitt Romney – US presidential candidate

With six months to go before the United States elects a new president – or reinstates a sitting president – it’s worth considering what China policy could be expected under a Romney presidency. Mitt Romney is the former Governor of Massachusetts and the former CEO of Bain Capital. He is the “last man standing” in the Republican race and is certain to be endorsed as the party’s candidate at its convention in Tampa Bay in late August. 

Central to Romney’s campaign is his free book: Believe In America: Mitt Romney’s Plan for Jobs and Economic Growth. This outlines a 59 point plan to restore America’s economic health. One core element of that is a confrontational approach to China:

“China presents a broad set of problems that cry out urgently for solutions. It is time to end the Obama administration’s acquiescence to the one-way arrangementsthe Chinese have come to enjoy. We need a fresh and fearless approach to thattrade relationship. Our first priority must be to put on the table all unilateral actions within our power to ensure that the Chinese adhere to existing agreements. Anyone with business experience knows that you can succeed in a negotiation only if youare willing to walk away. If we want the Chinese to play by the rules, we must be willing to say “no more” to a relationship that too often benefits them and harms us. (Page 43)

The threat of sanctions and retaliatory measures signals Romney would be willing to undertake a trade war with China. This is a “go for the votes” heart strings pull that is bound to resonate in jobless blue collar states. Yet to many this is likely to backfire just at a time when China’s markets are slowly opening. During her recent visit, Clinton succeeded in allowing greater banking and auto financing access for American firms in China.

 “Romney’s China Blunder” – The Wall Street Journal editorial page

Talking tough is an election year tactic. Aside from that, Romney usually veered towards free market approaches, especially when leading an aggressive investment firm. The firm he ran – and his family trust – have holdings in Uniview Technologies – a large supplier of video surveillance equipment to the government of China.  This allows central monitoring of universities, hospitals, parks, streets and more.

It may be better for Romney to wait. This quote at the weekend is the most telling:

 “Romney doesn’t want to really engage these issues until he is in office,”  said a senior adviser this weekend.

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