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Owes or Owed: Either Way Trump’s Dealings with Bank of China are Questionable



More Financial Corruption Trails Emerge, Politico’s Changing Headline Notwithstanding

Ever since his campaign began in 2015, President Donald Trump has been very vocal about China. He often brags about having the country wrapped around his finger while boasting his signature “America First” ideology. Recently, he’s not been afraid to point fingers at the country for the coronavirus either, and he uses China’s impeding global influence as a talking point in his campaign against former Vice President Joe Biden. He claims that if Biden wins the election, then China will essentially take over all of America.

Not only is this rhetoric overdramatic, but it is also quite hypocritical coming out of Trump’s mouth. The President can accuse the Biden all he wants, but a recent Politico feature exposed that Trump owed (originally published as “owes”) China millions of dollars for a real estate deal he made with them back in 2012.

Although the original Politico story has been re-published and disputed, these dealings remain part of a larger pattern of corruption and conflicts of interest by this president and need to be heavily scrutinized for the good of the country.

Read more: Dark Towers tells Deutsche Bank Story of Trump, post Bankruptcy yet Swimming in Loans

The deal involved Trump taking a massive loan from the state-run Bank Of China for a 30% stake in the Avenue of America skyscraper in Manhattan, a property worth over $1 billion total. Trump reportedly owes the bank $211 million for his share, and that debt could mature during Trump’s second term.

Follow the Money is Still the Mantra for Combatting Corruption

The President’s conspicuous relationship with China does not end with this single loan, though. According to Politico, “Chinese state-owned companies are constructing two luxury Trump developments in United Arab Emirates and Indonesia. The president and his daughter Ivanka Trump, a White House adviser, have been awarded trademarks by China’s government. And his son-in-law, Jared Kushner, has courted Chinese investors in at least one other real estate deal.”

Thus, Trump has clear reason to be personally invested in and politically defensive of China. Even if he plays the role of a bullish international diplomat for the media, our president has multiple questionable financial ties to China. He even brought up the Avenue of America property during a 2015 speech, citing it as an example of his business-savviness when dealing with the foreign country. What he left out, however, is that he still owed China millions of dollars, and would continue being in their debt well into his presidency.

Read more: ’Blowout’ by Rachel Maddow: Corrupted Democracy, Rogue State Russia and the Richest, Most Destructive Industry on Earth

No matter what kind of dirt Trump has (or has tried to attain) on Biden and the VP’s international dealings with Ukraine, they do not nullify his own actions with China. And it’s hard to imagine Trump always putting America first when China has a $211 million sway over his hallowed wallet.

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