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Tue Oct 20, 2020, 06:52 PM

Trump Records Shed New Light on Chinese Business Pursuits

Source: New York Times

By Mike McIntire, Russ Buettner and Susanne Craig
Oct. 20, 2020, 7:31 p.m. ET

President Trump and his allies have tried to paint the Democratic nominee, Joseph R. Biden Jr., as soft on China, in part by pointing to his son’s business dealings there.

Senate Republicans produced a report asserting, among other things, that Mr. Biden’s son Hunter “opened a bank account” with a Chinese businessman, part of what it said were his numerous connections to “foreign nationals and foreign governments across the globe.”

But Mr. Trump’s own business history is filled with overseas financial deals, and some have involved the Chinese state. He spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company.

And it turns out that China is one of only three foreign nations — the others are Britain and Ireland — where Mr. Trump maintains a bank account, according to an analysis of the president’s tax records, which were obtained by The New York Times. The foreign accounts do not show up on Mr. Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names. The identities of the financial institutions are not clear.

Read more: https://www.nytimes.com/2020/10/20/us/trump-taxes-china.html?smid=tw-share

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Reply Trump Records Shed New Light on Chinese Business Pursuits (Original post)
swag Oct 2020 OP
soothsayer Oct 2020 #1
ffr Oct 2020 #2
dalton99a Oct 2020 #4
fleur-de-lisa Oct 2020 #3
muriel_volestrangler Oct 2020 #7
ffr Oct 2020 #5
Kid Berwyn Oct 2020 #6
BlueWavePsych Oct 2020 #8

Response to swag (Original post)

Tue Oct 20, 2020, 06:53 PM

1. Freeze 'em when he flees!

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Response to swag (Original post)

Tue Oct 20, 2020, 07:37 PM

2. Trump maintains a previously unknown bank account in China.




Goddammit! Mitch McConnell, step out of the way so that law enforcement can arrest the emperor!

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Response to ffr (Reply #2)

Tue Oct 20, 2020, 07:41 PM

4. +1

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Response to swag (Original post)

Tue Oct 20, 2020, 07:37 PM

3. He paid mores in taxes to China than the United States.

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Response to fleur-de-lisa (Reply #3)

Wed Oct 21, 2020, 03:48 AM

7. +1 (nt)

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Response to swag (Original post)

Tue Oct 20, 2020, 08:04 PM

5. What are these unusually large infusions and withdrawals? Oh my!

The company has direct ownership of THC China Development, but is also involved in management of other Trump-branded properties around the world, and it is not possible to discern from its tax records how much of its financial activity is China-related. It normally reports a few million dollars in annual income and deductible expenses.

In 2017, the company reported an unusually large spike in revenue — some $17.5 million, more than the previous five years’ combined. It was accompanied by a $15.1 million withdrawal by Mr. Trump from the company’s capital account.


That's what auditors call a smoking gun. Might want to pull the detail on those two transactions.

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Response to swag (Original post)

Tue Oct 20, 2020, 10:34 PM

6. Chynnah

Corporations are handy for laundering the emoluments wink wink.

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Response to swag (Original post)

Wed Oct 21, 2020, 09:15 AM

8. So Drumpf and Xi are best buds afterall.

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