The troubling reason why Biden is so soft on China
—Peter Schweizer, New York Post, May 11, 2020
In 2013, then-Vice President Joe Biden and his son Hunter Biden flew aboard Air Force Two to China. Less than two weeks later, Hunter Biden’s firm inked a $1 billion private equity deal with a subsidiary of the Chinese government’s Bank of China. The deal was later expanded to $1.5 billion.
In short, the Chinese government funded a business that it co-owned along with the son of a sitting vice president.
If it sounds shocking that a vice president would shape US-China policy as his son — who has scant experience in private equity — clinched a coveted billion-dollar deal with an arm of the Chinese government, that’s because it is. ...”
Without the aid of subpoena power, here’s what we know. The businesses of Hunter Biden and his partners created a series of LLCs involved in multibillion-dollar private equity deals with companies owned by the Chinese government.
The centerpiece of these deals is Rosemont Seneca Partners, an investment firm controlled by Hunter Biden and his associates: Chris Heinz, who is John Kerry’s stepson, and Heinz’s longtime associate Devon Archer. The trio founded Rosemont Seneca in 2009 and quickly began making deals through a series of overlapping entities under the Rosemont name. ...”
Less than a year after opening Rosemont Seneca’s doors, Hunter Biden and Archer were in China meeting with top Chinese officials. ...”
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