When the new US President Biden took office, China announced sanctions on 28 former Trump administration officials, including former US Secretary of State Pompeo. China’s counter-sanctions against the United States are rare. In addition to prohibiting entry, it also restricts companies and institutions associated with them and their families from dealing and doing business with China. In fact, many past presidents and principal officials of the United States have made many commercial arrangements with the Chinese market after leaving office, earning considerable returns. The official media even revealed that the Pompeo family has a close relationship with American industrial giants, and it will be difficult for the company to accept him in the future.
“Global Times” reported that the former high-ranking officials of the US government mainly used two ways to gain profits in the Chinese market by using personal connections after leaving office.
- The first way: speech and endorsement
Former US politicians are making money after stepping down. The Chinese people are most familiar with coming to China to participate in business speeches and banquets, and appearance fees are generally quite high.
For example, the former president of the United StatesBill ClintonIn 2002, he went to Shenzhen to participate in the opening ceremony of a coastal real estate. In 2003, he went to Chengdu to endorse the liquor brand Jiannanchun. The media broke the news at the time that Clinton was worth 1.4 million US dollars.
Except for Clinton, the former U.S. Secretary of StateColin Powell、Madeleine AlbrightWorth $1 million; former vice presidentAl GoreIt is worth $800,000.
The former Trump Chief Strategic Advisor on the China Sanctions List this time班農（Stephen Bannon）A few weeks after his dismissal in 2017, he was invited by a Hong Kong company to speak at an investor conference and reportedly earned 300,000 US dollars. Bannon’s trip was also arranged for lunch with hedge fund managers and investors.
They generally have specialized brokerage companies and brokers, agents for the contact and conference business of the two parties, communication costs and itinerary arrangements. For example, a Chinese company operating related businesses wrote on its official website, “Invite foreign leaders to give speeches around the world, participate in round tables, visit companies, attend press conferences, dinners, celebrations, opening ceremonies, launch ceremonies, and brand activities. , Or act as the general counsel of the company, or set up a personal foundation to participate in the operation of major commercial projects”, “create the world’s top circle of friends for partners.”
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- The second way: doing business or being a consultant
Compared with making speeches, directly operating trade and consulting companies that have relations with China, or serving as policy and legal advisors to large companies, are the directions that more former US politicians choose.
Deputy Secretary of Commerce of the United States under BushFrank LavinAfter leaving office, he opened a trading company called Export Now, which provides one-stop services of package storage, export, customs declaration, and marketing for American small and medium-sized enterprises, helping American small and medium-sized enterprises to enter the Chinese market, and opened a store on Tmall.com.
U.S. Secretary of Defense during the Clinton AdministrationWilliam CohenThe Cohen Consulting Company (The Cohen Group) was founded, with offices in Beijing and Tianjin. Former Deputy Secretary of State Marc Grossman (Marc Grossman) and Burns (Nick Burns), former Deputy Secretary of the US Department of Homeland Security, former US Coast Guard Commander James Loy, former Commander-in-Chief of the US Army Armament Command ( Paul Kern) and others all work in the company.
The former White House national security adviser on the sanctions listRobert O’BrienPrior to that, he served as the managing partner of the American law firm Arent Fox for 7 years. The China business page of the company’s official website reads: “We provide consulting for Chinese companies that want to do business in the United States or American companies that do business in China. We have a team of experienced lawyers.” “Able to speak fluent Chinese ( (Mandarin and Cantonese), knows all about local business practices.”
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The Global Times pointed out that, as the world’s financial center, the United States has thousands of registered companies in Hong Kong, and almost all large companies have business dealings with Hong Kong. The sanctions will obviously hit Bannon and others in Hong Kong-related activities even more.
Mike PompeoHis wife and his wife had a very close relationship with Koch Industries, and before Pompeo became a member of the House of Representatives, the Koch Group also invested US$90 million in Pompeo’s small companies. Therefore, after Pompeo stepped down as Koch Industries It is difficult for the Group to take Pompeo again.
Hara Hygiene ManagerAlex AzarSince visiting Taiwan last year was also sanctioned by Beijing, from 2012 to 2017 he served as president of the US division of Eli Lilly and Company, a large pharmaceutical company, and chairman of the board of directors of the Biotechnology Innovation Organization, a pharmaceutical lobby group. The sanctions may make it difficult for him to return to the business world.
The former Deputy Secretary of State who was also sanctioned for visiting Taiwan last yearKeith Krach, Was the youngest Vice President of General Motors (GM) in history. GM has many commercial interests in China, and the sanctions made it difficult for the company to say welcome to him.
According to reports, China’s sanctions have made current U.S. officials consider whether their government work can be done for a lifetime when considering policies toward China. If they can’t do it for a lifetime, after they leave the government, can they and their families stay away from China for a lifetime? If politicians from Britain, Australia, Canada and other countries continue to oppose China, sooner or later such sanctions will be their turn.
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