{"id":1243064,"date":"2022-01-26T12:38:08","date_gmt":"2022-01-26T17:38:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1243064"},"modified":"2022-01-26T12:38:50","modified_gmt":"2022-01-26T17:38:50","slug":"beijing-nancy-pelosi-shifted-her-china-stance-as-her-family-scored-beijing-deals","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beijing-nancy-pelosi-shifted-her-china-stance-as-her-family-scored-beijing-deals\/","title":{"rendered":"Beijing Nancy: Pelosi Shifted Her China Stance as Her Family Scored Beijing Deals"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbeijing-nancy-pelosi-shifted-her-china-stance-as-her-family-scored-beijing-deals%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1243064&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">House Speaker Nancy Pelosi softened her previous criticisms of China\u2019s communist regime as her husband and son scored big business deals in China, Breitbart News senior contributor Peter Schweizer\u2019s new book reveals.<\/p>\n<p>The bombshell revelations about Pelosi in <a href=\"https:\/\/www.amazon.com\/Red-Handed-American-Elites-Helping-China\/dp\/0063061147\/?tag=breitbart035-20\"><em>Red-Handed: How American Elites Get Rich Helping China Win<\/em><\/a> also come as the Democrat stalwart is under fire for <a href=\"https:\/\/www.breitbart.com\/politics\/2022\/01\/12\/report-congress-beat-the-market-in-trading-for-2021\/\">stock trading returns<\/a> made by her and her husband that regularly outperform the market. Now, it appears as though her family\u2019s business opportunities in China have influenced her policy views on America\u2019s chief adversary, something sure to fuel the fire to rein in corruption in Congress.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Pelosi\u2019s family, Schweizer reveals, has had millions of dollars on the line when it comes to China, and the Speaker seems to have altered her positions on China\u2019s communist regime from a policy perspective as these investments grew and took shape.<\/p>\n<p>Pelosi began her career as tough on China and still occasionally rips the Chinese Communist Party for human rights abuses.<\/p>\n<p>\u201cThe longtime member of Congress and Speaker of the House was, early in her career, a particularly harsh critic of China\u2019s human rights practices,\u201d Schweizer writes. \u201cShe continues to be vocal about some issues, but her positions have softened as her family has sought and received lucrative commercial opportunities in mainland China.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>In the early 1990s, Schweizer recounts how she even pulled off a protest in Tiananmen Square that infuriated Chinese officials:<\/p>\n<blockquote>\n<p>In 1991, as a junior member of Congress, Pelosi found herself in Tiananmen Square. She was part of a congressional delegation visiting Beijing barely two years after the horrific events had un- folded. Pelosi had been in meetings with Chinese officials, but with a couple of colleagues, she covertly carried a banner into the middle of the square and unfurled it in front of a small crowd and the media. \u201cTo those who died for Democracy in China,\u201d it read. The Chinese police were furious. They pushed through the crowd to seize the banner. \u201cI started running,\u201d Pelosi recalled. \u201cAnd my colleagues, some of them, got a little roughed up. The press got treated worse because they had cameras, and they were detained.\u201d The Foreign Ministry denounced the event as a \u201cpremeditated farce.<\/p>\n<\/blockquote>\n<p>This move was not an isolated incident; Pelosi actually was tough on China for years.<\/p>\n<div id=\"attachment_19629186\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19629186\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/AP910904043.jpg\" alt=\"\" width=\"1920\" height=\"1402\" \/><\/p>\n<p class=\"wp-caption-text\">Rep. Nancy Pelosi (D-CA) with Rep. Ben Jones (D-GA), left, and Rep. John Miller (R-WA), right, hold a banner in Tiananmen Square on September 4, 1991, to honor the pro-democracy protesters slain by China\u2019s communist regime in the 1989 massacre. (AP Photo)<\/p>\n<\/div>\n<p>Schweizer also recounts how Pelosi fought against giving China most-favored-nation trade status and against allowing China entry into the World Trade Organization. He also noted that in 2005, Pelosi spoke on the House floor in support of&nbsp; an amendment to block the Chinese National Overseas Oil Company (CNOOC), a Chinese government-backed entity, from purchasing Unocal, a California-based oil company.<\/p>\n<p>But, Schweizer writes, Pelosi\u2019s \u201cviews began to moderate.\u201d A March 2009 Politico <a href=\"https:\/\/www.politico.com\/story\/2009\/03\/pelosi-still-hammers-china-020151\" target=\"_blank\" rel=\"noopener\">story<\/a> quotes people close to Pelosi noticing a \u201csubtle shift\u201d in her approach to China. Then-Politico reporter reporter Glenn Thrush wrote that while Pelosi \u201cwon\u2019t back down on her core commitment to democratization in the country,\u201d according to people close to her \u201cshe\u2019s also not looking to pick new fights with China\u2019s leaders\u2014 or with the Obama Administration as it seeks to strengthen U.S.- China relations.\u201d<\/p>\n<p>The <em>Wall Street Journal<\/em> <a href=\"https:\/\/www.wsj.com\/articles\/SB124333266470153987\" target=\"_blank\" rel=\"noopener\">reported<\/a> two months after that Politico story in May 2009 that Pelosi told the U.S.-China Clean Energy Forum in Beijing that the reason for her \u201cshift\u201d on China was, as Schweizer writes, \u201ca result, in part, of issues like climate change that the two countries needed to tackle together.\u201d<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>\u201cI think this climate crisis is game changing for the U.S.-China relationship,\u201d Pelosi said at the event. \u201cIt is an opportunity we cannot miss.\u201d<\/p>\n<p>While the \u201cclimate crisis\u201d is Pelosi\u2019s stated reason for softening on China, Schweizer argues in <em>Red-Handed<\/em> that \u201cthere were perhaps other factors at work,\u201d noting that Pelosi\u2019s \u201chusband and son started seeking and securing deals on mainland China.\u201d<\/p>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Schweizer explains that Pelosi\u2019s husband, Paul Pelosi, \u201cbecame a partner investor in Matthews International Capital Management, a pioneer in the Chinese investment market.\u201d Matthews International Capital Management was run by Pelosi\u2019s \u201cfriend and political supporter\u201d William Hambrecht, a mega donor who has given millions of dollars to Democrats and Democrat-aligned causes.<\/p>\n<p>Hambrecht first launched a Chinese growth fund as far back as 1995, and Schweizer notes that Hambrecht was optimistic that technology\u2014especially the internet\u2014would help explode growth there.<\/p>\n<p>The China Fund, Schweizer continues, is now Matthews\u2019 \u201cbest-known investment fund.\u201d Schweizer quotes Matthews\u2019 China Fund fact sheet as saying, \u201cUnder normal market conditions, the Matthews China Fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in China.\u201d<\/p>\n<figure id=\"M-ROS-B4\" class=\"a8d adSo\"><\/figure>\n<p>The Pelosi family has had millions of dollars invested in just this particular operation, Schweizer notes.<\/p>\n<p>\u201cIn addition to Paul serving on the board, the Pelosis had a big chunk of money invested in Matthews,\u201d Schweizer writes. \u201cIn 2010, the Pelosis held between $5 million and $25 million in a Matthews fund \u2018specializing in Asian investment.\u2019 Paul Pelosi received partnership income between $100,000 and $1 million.\u201d<\/p>\n<p>The Matthews fund is not the only Pelosi family business opportunity tied to China. Pelosi\u2019s husband was involved with multiple limousine services, including one that catered to the 2008 summer Olympics in Beijing.<\/p>\n<div id=\"attachment_19629266\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19629266\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-51591747.jpg\" alt=\"\" width=\"2048\" height=\"1292\" \/><\/p>\n<p class=\"wp-caption-text\">Nancy Pelosi (D-CA), right, stands with Reps. Christopher Cox (R-CA), center, and Tom Lantos (D-CA), left, at a press conference on March 21, 2001, announcing their opposition to China\u2019s 2008 Olympic bid due to the country\u2019s poor human rights record. (SHAWN THEW\/AFP via Getty Images)<\/p>\n<\/div>\n<p>\u201cThe Pelosis had previously become involved in other China ventures as well. Paul Pelosi\u2019s classmate from Georgetown, Vincent Wolfington, set up a limousine service called Global Ambassador Concierge, which catered to ultra-high net-worth individuals traveling around the world,\u201d Schweizer writes. \u201cOne big market for Global: the Beijing 2008 Summer Olympics.\u201d<\/p>\n<p>Originally, Pelosi had been opposed Beijing hosting the Olympic games in 2008. Schweizer notes that at the time, Pelosi was \u201carguing that [China\u2019s] human rights record should prevent it from such an honor.\u201d But she appears to have changed her position after her husband had skin in the game business-wise.<\/p>\n<p>\u201cThe year after her husband bought shares in Global Ambassador Concierge, she reversed course and opposed a boycott of Beijing\u2019s hosting of the games,\u201d Schweizer writes.<\/p>\n<p>Global was not the only limousine service that Pelosi\u2019s husband invested in and profited from. \u201cThe Pelosis also bought a stake in another limousine service, City Car Services (CCS), which Wolfington\u2019s son apparently ran,\u201d Schweizer writes. \u201cSEC documents show Paul Pelosi as a member of the board of directors of CCS.\u201d<\/p>\n<p>Pelosi\u2019s husband was not alone in the family for having business interests in China that clearly conflicted with Pelosi\u2019s duty as a member of, and leader in, Congress. Her son Paul Pelosi Jr. also had several business opportunities in China.<\/p>\n<div id=\"attachment_19629330\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-19629330\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-157368614.jpg\" alt=\"\" width=\"1920\" height=\"1280\" \/><\/p>\n<p class=\"wp-caption-text\">Nancy Pelosi (center) arrives with her husband Paul Pelosi (left) and son Paul Pelosi, Jr. (right) at the 35th Kennedy Center Honors in Washington, DC, on December 2, 2012. (Drew Angerer\/AFP via Getty Images)<\/p>\n<\/div>\n<p>\u201cNancy Pelosi\u2019s son, Paul Pelosi Jr., was also looking for commercial opportunities on the mainland, and he embarked on a series of ventures that involved Chinese investors and clients,\u201d Schweizer writes:<\/p>\n<blockquote>\n<p>In June 2010, he became the chair of the Universal Energy and Services Group Advisory Board for a company called Tree Top Industries. Upon announcing his appointment, the company declared that Paul Jr. and the company chairman \u201cplan to travel to Vietnam and China to meet potential investors and are attempting to arrange meetings in Washington DC with appropriate federal agencies.\u201d<\/p>\n<p>Tree Top eventually changed its name to Global Tech Industries Group, and Paul Pelosi Jr. remains a shareholder in the company. The firm has long sought partnerships in China.<\/p>\n<p>Paul Pelosi Jr. joined the board of another company, International Media Acquisition Corp., with ambitious plans in China. \u201cWe believe India and other emerging economics markets, as well as China, represent excellent markets in which to find strong candidates for our initial business combination because of their relatively high growth rates,\u201d stated the firm when it filed.<\/p>\n<\/blockquote>\n<p>Schweizer concludes the Pelosi section of <em>Red-Handed<\/em> by noting that when the coronavirus pandemic hit the United States after emerging from Wuhan, China, the Democrat Speaker used her position to block any and all investigation into the origins of the virus.<\/p>\n<p>\u201cBeginning in 2020 and extending for more than a year, U.S. Speaker of the House Pelosi blocked efforts by Congress to investigate the origins of the COVID-19 virus,\u201d Schweizer writes. \u201cWith much of the evidence pointing to the possibility of a lab leak of the virus in Wuhan Pelosi ordered the Democrats in Congress not to cooperate with any efforts to investigate the matter.\u201d<\/p>\n<p>Pelosi had agreed with House GOP Leader Kevin McCarthy to impanel a special committee of Congress to investigate China, something McCarthy worked for over a year on before Pelosi withdrew Democrat support in early 2020 as the first case of coronavirus devastated the United States for a pandemic that continues to this day. McCarthy, for his part, <a href=\"https:\/\/www.breitbart.com\/politics\/2020\/05\/11\/exclusive-kevin-mccarthy-on-houses-china-task-force-china-wants-to-defeat-america-usa-must-be-united-in-response\/\" target=\"_blank\" rel=\"noopener\">continued forward<\/a> with a Republican-only commission to investigate China; and that panel produced a report in the lead-up to the 2020 election. McCarthy has said that if and when Republicans retake the House majority after the 2022 midterm elections\u2014and thereby retire Pelosi as Speaker, who is using her position to stand in the way of holding China accountable\u2014that he intends to create a select committee on China in the Congress next year.<\/p>\n<p>Pelosi <a href=\"https:\/\/twitter.com\/TeamPelosi\/status\/1486097075142021128\" target=\"_blank\" rel=\"noopener\">announced<\/a> on Tuesday that, unlike 29 and counting other House Democrats, she intends to seek reelection in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Speaker Nancy Pelosi softened her previous criticisms of China\u2019s communist regime as her husband and son scored big business deals in China, Breitbart News senior contributor Peter Schweizer\u2019s new &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1243064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1243064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1243064"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1243064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1243064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1243064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1243064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}