How can two ideologically opposing regimes like the Chinese Communist Party (CCP) and the United States cooperate? To answer this question, Hong Kong industrialist Yuan Gongyi pointed out that the 9/11 incident enabled the CCP to stand up, especially after China joined the WTO with the help of the United States. However, he believes that a friendly relationship between the United States and China no longer exists.
The CCP is the biggest beneficiary of 9/11
Yuan Gongyi said that the 9/11 incident was “a fruitful harvest for the CCP.” At the time, Yang Jiechi—a Chinese Ambassador to the United States, had a close relationship with the President George W. Bush family.
Yang Jiechi was a frequent visitor of the Bush family. After 9/11, Yang Jiechi immediately expressed China’s willingness to help the United States pursue terrorists, saying that Beijing had the intelligence in this area and that there were informants in the Middle East.
Yuan Gongyi continued that this pleased President Bush and the CCP started to gain the trust of the U.S. The former president also allowed people from the CCP’s Department of Defense to live in Washington and “even work in the State Department and the Pentagon.” Gongyi continued, “When Bush took office, he promised to deal with the axis of evil, including the CCP, Iran, North Korea, and two countries in the Middle East,” he said. Furthermore, after Yang Jiechi expressed his willingness to help in the 9/11 incident, the U.S. no longer considered the CCP as an enemy, but rather a friend.
The CCP took advantage of the 9/11 incident to improve US–Sino relations and join the WTO
Yuan Gongyi pointed out that after the 9/11 incident, all the bad things that the CCP had done were wiped out, and China was able to join the World Trade Organization. Yuan said that he was an adviser to the U.S. government at the time, and the then prime minister Zhu Rongji personally acted on the Chinese side. The United States put forward many conditions, such as fair trade and most-favored-nation treatment, and Zhu Rongji accepted them all. Although there were arguments within the CCP that if the U.S. requests were fully agreed to, it would bring hardship to China’s economy. In this regard, Zhu Rongji said that “rules are dead and people are alive,” implying that China may not abide by the WTO terms and conditions.
China officially joined the WTO in Dec. 2001, three months after 9/11. Since then, a large number of American companies have invested in China, and companies from neighboring countries such as Hong Kong and Japan have also entered China. Yuan Gongyi said that these CCP-backed companies have also gone public in the United States. The U.S. purchased a large amount of made-in-China products, promoting China’s coastal economy. Especially in the case of Guangdong province, which gained the most benefit from the U.S. policy since it was close to Hong Kong and learned from Hong Kong citizens about their work ethic. The model was then applied to other parts of China.
China’s troika (investment, consumption, export) has been becoming more and more successful, and the snowball has been getting bigger and bigger. Yuan Gongyi emphasized that had it not been for the 9/11 incident, the U.S. would have concentrated its efforts on the evil axis countries including China. However, after 9/11, the U.S. has focused on chasing terrorist organizations and loosened its vigilance against the CCP, which was the root cause for today’s threat.
Money is the root of the CCP’s evil
He also stated that the CCP would reserve all of its foreign exchange in the People’s Bank of China and use the Ren Ming Bi (Chinese Yuan) to pay the Chinese people. This way, China has two currency systems and they can take advantage of that to apply dirty tricks in terms of currency. As a result, and despite a large amount of foreign currency pouring into China, the Chinese could not freely exchange foreign currencies.
He estimated that about $20 trillion of foreign exchange acquired by China in the past 20 years was in the hands of the CCP. “This is the root of the CCP’s evil,” he said. China uses its money to buy U.S. Treasury bonds and can now rest assured that the United States will no longer oppose the CCP. Moreover, with the foreign exchange, the entire Wall Street would be willing to cooperate with the CCP.
Yuan Gongyi pointed out that the development of China’s economy is “a miracle created by the Chinese working people” and has nothing to do with the CCP. The Chinese are known for their hardworking, frugality, ability to endure a high-pressure overtime work environment, and commitment to their companies. Therefore China is an attractive destination for foreign investment. The CCP just exploits. In the past decades of reform and opening up, Chinese people themselves found ways to make money and develop because the CCP has reduced its control over the people and the economy.
Xi Jinping had a misunderstanding that the CCP political system made China rise, but Deng Xiaoping said the CCP “do not need to care,” just let a group of people get rich first, and China would have a chance to develop. But as soon as the CCP officials became rich, they began to embezzle. When the CPP owned a large amount of foreign exchange, it also began to throw money into Africa and further infiltrated Western countries.
Yuan Gongyi revealed that he has been doing business in China and the United States for a long time. It came to his knowledge that many senior Chinese officials donate money to the Ivy League universities in the United States and then send their children to those universities. After their children graduated, they worked for the Wall Street companies. As high-ranking officials in Beijing, their parents helped connect and introduce mainland companies to go public in the U.S.. Therefore, many investment banks like to hire children whose parents are high-ranking officials.
The CCP’s financial difficulties made Xi Jinping push on ‘Common Prosperity’
A few days ago, Xi Jinping was engaged in “common prosperity” and “three distributions.” Alibaba, Tencent, and other technology giants have accordingly appealed to donate hundreds of billions in funds. Yuan Gongyi analyzed: “If there is a shortage of money, Xi Jinping can order the bank to print money and loosen the currency market.” However, most of the people in the financial system belong to the CPP’s former leader Jiang Zemin’s faction. Therefore, they may not follow Xi Jinping’s orders and may find an excuse. Thus, Xi Jinping can only use his brains on companies such as Alibaba and Tencent, which shows that the CCP is indeed facing financial difficulties.
In addition, Yuan Gongyi revealed that he had a meeting with former U.S. secretary Mike Pompeo and China specialist Yu Maochu last week to once again talk about characterizing the CCP as a “transnational criminal group.” Mike Pompeo and Yu Maochun believe that the situation will naturally evolve to that point. As the evil of the CCP is exposed on a large scale worldwide, everyone will tacitly understand the criminal behavior of the CCP. As a result, many people will reach a consensus on the accusation that “the CCP is a criminal group,” and the U.S. Congress will also pass a bill on the accusation.
Yuan Gongyi said that in order to disintegrate the CCP, the U.S. needs heads of state like former president Donald Trump and Mike Pompeo; On the other hand, Xi Jinping is the chief architect of the decline in China’s economy.
There is a growing trend—more and more foreign companies are divesting their capital from China.
He also said it is necessary to distinguish between China and the CCP, Hong Kong and mainland China. Under the rule of the CPP, the mainland is indeed less civilized than Hong Kong. Hong Kong has been fully integrated with the West for the past 150 years under British rule. Hong Kong people understand what real freedom, democracy, human rights, and the rule of law are and the social systems and operating methods required to achieve those universal values. However, such a perception is not familiar in mainland China.
Finally, Yuan Gongyi pointed out that China’s economy is not far from the Great Depression, and the CCP is on its way to self-destruction.