Hardline Except For “Lucrative Investments”: Mitt Romney Profiting Off Chinese Surveillance
In a Wall Street Journal oped last month, Mitt Romney laid out “how I’ll respond to a China’s rising power” and criticized the Obama administration’s handling of relations with Beijing. Romney warns of a China as a regional hegemon:
The character of the Chinese government — one that marries aspects of the free market with suppression of political and personal freedom — would become a widespread and disquieting norm.
In the op-ed, the former Massachusetts governor also criticized Obama for failing to press Beijing on human rights and intellectual property violations.
While Romney is quick to criticize Beijing and the White House’s management of U.S.-China relations, an examination of the GOP frontrunner’s investments with Bain Capital — a company he co-founded and once led — suggest he has profited from Chinese surveillance of its own citizenry and from companies that have engaged in intellectual property theft.
The New York Times revealed yesterday that a Bain-run fund in which a Romney family blind trust had holdings purchased Uniview Technologies in December, a Chinese company that claims to be the biggest supplier of surveillance cameras to the Chinese government. Uniview produces “infrared antiriot” cameras and software that allow police to share images in real time and provided technology for an emergency command center in Tibet that “provides a solid foundation for the maintenance of social stability and the protection of people’s peaceful life,” according to Uniview’s Web site.
Human rights advocates say that the rapidly growing number of surveillance cameras in Chinese cities are used to intimidate political and religious activists. “There are video cameras all over our monastery, and their only purpose is to make us feel fear,” Loksag, a Tibetan Buddhist monk in Gansu Province told the Times. He said the cameras helped the authorities identify and detain nearly 200 monks who participated in a protest at his monastery in 2008.
Romney has said he has no role in Bain’s operations but a financial disclosure form filed last August showed that his wife, Ann Romney, held a $100,000 to $250,000 investment in the Bain Capital Asia Fund that purchased Uniview.
In his Wall Street Journal op-ed, Romney wrote, “In the economic arena, we must directly counter abusive Chinese practices in the areas of trade, intellectual property, and currency valuation.”
But Romney’s apparent hypocrisy between his hardline positions on China and his lucrative investment portfolio is on show once again with Bain Capital’s investment in Chinese YouTube competitor Youku. CBS Marketwatch co-founder Bill Bishop writes on his blog, Sinocism, that Romney’s talk of pressing Beijing to better enforce intellectual property rights is in direct contradiction with Bain Capital’s early investment in Youku, a “pirate’s den of copyright infringement” in the site’s early days. A Bain Capital VP now sits on the board of Youku and Youku has reportedly cracked down on copyright violating content. Its newly acquired partner, Tudou, still hosts a variety of pirated and copyright infringing videos.
But if Romney profited from Bain’s ties to Youku and Uniview Technologies, it’s worth examining how the GOP frontrunner’s tough-talk on China can happily coexist with Bain’s investments in companies that have constructed business models around Chinese human rights abuses and intellectual property theft.
By: Eli Clifton, Think Progress, March 16, 2012
Mitt Romney Takes His China-Bashing Campaign To Company That Touts Its Chinese Outsourcing
Well, this is awkward. Mitt Romney, who’s been on the trail recently talking tough on China, is making his last campaign stop of the day before the caucuses at a business that touts the way it outsources much of its manufacturing to China.
Competitive Edge is a firm headquartered near Des Moines that creates and sells promotional items with corporate logos. Romney’s scheduled to make a campaign stop there at around 9:00 PM CT, as part of a day-long tour through the Hawkeye State in the run-up to Tuesday’s caucuses.
What he may not mention: customers of Competitive Edge are choosing a company to make their promotional goods that brags about how much manufacturing work it sends to China.
From the company’s website:
We achieve this goal by utilizing a global network of manufacturers that assist us in sourcing, designing and making our products. It is not surprising that most labor-intensive products are produced in China. What may not be as well known is the level of sophistication and technical expertise that Chinese manufacturers have developed. Competitive Edge takes advantage of these foreign assets and has been working with Chinese manufacturers for over 25 years. As a result of our years of experience and our extensive factory and agent relationships in China, we are able to bring great value and a high level of service to our customer.
The website also features pictures of Chinese employees hard at work on what looks to be Competitive Edge orders. They’re really quite good at sending work to China, the website says:
Our extensive use of cutting edge technology makes it easy for us to collaborate and compete in real time with people and companies located anywhere in the world. Utilizing computer networking, e-mail, teleconferencing and dynamic software applications, conducting business in China is as easy for us as working with domestic companies.
At the Clive location, where Romney will be speaking, the company houses its “Screen Printing and Embroidery Departments.”
On the trail, Romney has said he’d take China before the WTO to be penalized for currency manipulation. Rival Jon Huntsman has warned against that, saying it would start a trade war that would boost prices on Chinese goods and, presumably, making life a lot harder for companies like Competitive Edge.
By: Evan McMorris-Santoro, Talking Points Memo, January 2, 2012
Share This Blog
Unknown Feed- An error has occurred; the feed is probably down. Try again later.
mykeystrokes.com 