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The Finance 202: Mike Bloomberg is likely the most

The Finance 202: Mike Bloomberg is likely the most China-friendly 2020 candidate

It remains to be seen whether Democratic voters will embrace Mike Bloomberg now that he is officially a 2020 candidate. But his late entry should be welcome news to Chinese leaders. To get more china finance news, you can visit shine news official website.

The billionaire and former New York City mayor is likely the field’s most Beijing-friendly candidate. He's argued against the U.S.-China trade war, maintained investments in China, hosted a conference there and frequently speaks up on behalf of its regime. His approach has drawn criticism from conservatives — but it also represents a vulnerability in a Democratic race that has embraced a more confrontational posture toward the Chinese government.

It’s an issue Bloomberg is wrestling with in real time. Just last week, as he prepared to jump into the race, he canceled a planned appearance in Beijing at the New Economy Forum, a conference hosted by his company, Bloomberg LP, and attended by top Chinese officials.

He tapped former treasury secretary Hank Paulson to open the event in his stead. “My good friend Michael Bloomberg asked Henry Kissinger and me to represent him here today, because, as you all know, he's made a decision to serve his country,” Paulson said, name-checking the former Secretary of State who has long worked to promote ties between the United States and China.

Bloomberg’s view of China’s authoritarian government has elicited closer scrutiny since he began signaling an interest in a bid he’d sworn off earlier this year. In particular, he faced blowback for defending Chinese President Xi Jinping in a September interview with PBS’s “Firing Line.” “The Communist Party wants to stay in power in China, and they listen to the public,” Bloomberg said on the show. “Xi Jinping is not a dictator. He has to satisfy his constituents or he’s not going to survive.”
Pressed by host Margaret Hoover on whether he really believes Xi is not a dictator, Bloomberg emphasized his point. “No, he has a constituency to answer to,” Bloomberg said. “No government survives without the will of the majority of its people, okay? The Chinese Communist Party looks at Russia and they look for where the Communist Party is and they don’t find it anymore. And they don’t want that to happen. So, they really are responsive.” This is a stark contrast to the situation on the ground, where over a million Muslim Uighurs have been forced into detention camps and pro-democracy protests in Hong Kong face live rounds and tear gas.

The claim flies in the face of a spate of Chinese crackdowns, including the forcing of over a million Musliim Uighurs into detention camps and the use of live rounds and tear gas on pro-democracy protesters in Hong Kong.

The exchange prompted Washington Post columnist Josh Rogin to write that Bloomberg’s “record on China shows he is the wrong person to guide our country in confronting this historic challenge.”

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