Professor Zhai Dongsheng of Renmin University of China recently described in a public speech, in boastful terms, the Chinese authorities’ use of “old friends in the inner circle of American power” to influence U.S. politics and policy toward China over the past few decades. A few hours after the video went viral on Chinese social media, it was quickly removed from the Internet. At the same time, Zhai’s remarks were reported by Fox News and other U.S. media outlets across the ocean, and were subsequently retweeted by President Trump himself.
It is reported that Zhai Dongsheng’s speech was delivered on November 28th of this year. The topic of his speech was “Will China’s Financial Opening Attract the Wolf of Wall Street? The main thrust of his presentation was a call for China to further open its financial markets and accelerate the internationalization of the RMB. He argued that financial openness would instead help China establish its own market rules outside the U.S. dollar system and strive for more financial dominance, thus allowing “global financial players to come over and turn it into investment in this market”; a “decoupling and re-pegging” from the U.S. dollar system. “The Process. What really caught Zhai’s attention in his speech, however, was his analysis of the interaction between top Chinese officials and the U.S. political and business elite establishment over the past several decades.
In his speech, Zhai Dongsheng identified himself as an explosive speaker, and his remarks included, “Because we know that the Trump administration is in a trade war with us, so why can’t we handle the Trump administration? Why were all kinds of issues between the U.S. and China settled before, between 1992 and 2016? We found no, what crisis, whether it is the Galactica incident, or bombing the embassy, or hit the plane, so things are all bed quarrels and bed-end peace, within two months to get done. What is the reason? Here’s one I’m throwing out here, and it’s probably going to be another exposition, just because we have people up there. We have our old friends in the core circle of power in the United States.”
Zhai Dongsheng’s controversial statement was not only related to China-US relations, but also, by way of example, to US internal affairs, saying, “As I said before, Wall Street has had a very strong influence on US domestic and foreign affairs since the 1970s, so we have paths to rely on, but the problem is that Wall Street’s status has declined since 2008, and more importantly, Wall Street can’t handle it after 16 years. Trump. Why? It’s awkward. Trump had a previous soft default on Wall Street, so there was a conflict, but of course I won’t go into the details of that, it may have been too late.” He said, “Then during the U.S.-China trade war, they also tried to help, and I know that friends on the U.S. side told me that they tried to help, but couldn’t do enough.”
Zhai said, “But now we’ve seen Biden come to power, the traditional elites, the political elites, the establishment, they’re very close to Wall Street, so you see that, right? Biden’s son was told by Trump, “What funds do you have around the world, did you find any? Who helped him build the foundation? Got it? It’s all business.” A few hours after the video of Zhai’s speech went viral on Chinese social media, it was quickly taken down across the Internet. But it still got the attention of conservative media in the United States, including Fox News. Fox News host Tucker Carlson and his team also devoted a nearly 7:30-minute program to Zhai’s speech. Carlson commented, “Our American elites were previously working for China.
Allegations of money and corruption against America’s traditional political elite and interference by foreign influences have also been among the main topics of Trump’s election attacks. Trump, for his part, retweeted the Fox News report on Dec. 8. Trump’s tweet has now received more than 4.3 million views, 62,000 retweets, 160,000 likes and more than 12,000 comments. Trump has more than 88.6 million Twitter followers. According to public records, Zhai Dongsheng is currently deputy dean of the School of International Relations at Renmin University of China, special researcher at the Institute of International Monetary Affairs, doctoral supervisor of world economy and international political economy, and deputy director and secretary general of the China Center for Foreign Strategic Studies.
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