Twitter LinkedIn
    Saturday, July 2
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Private Equity»Schwarzman Predicts Gentler Biden Approach to Beijing
    Private Equity

    Schwarzman Predicts Gentler Biden Approach to Beijing

    January 22, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Blackstone head has been close to Trump, but he also is an investor in Chinese companies.

    One of Donald Trump’s biggest financial backers, Blackstone Group Chairman Stephen Schwarzman, declared that the Biden administration would take a “softer tone” regarding China, and that he expected less animosity between the two countries.

    Schwarzman, who also happens to be an investor in China, has remained a Trump confidante, even though the financier publicly urged the outgoing president to accept Joe Biden’s victory.

    On the question of punitive relations with China, though, Schwarzman and Trump really part company. “There is really a very substantial overlap of interest in these countries and the interest of the world,” the private equity chieftain said Tuesday in Hong Kong, according to Reuters. “I expect to see much less tension” during the Biden presidency.

    As his time in the White House grew short, Trump added to his blacklist of Chinese companies that are off limits to American investors, Under Trump’s November executive order, investors must unload the securities of 44 Chinese companies allegedly linked to that rival nation’s military. Tech giant Huawei, computer maker Xiaomi, and oil company CNOOC are among those on the roster.

    Whether Biden will revoke his Republican predecessor’s order remains to be seen. The Democrat, who takes the oath of office today at noon, also is critical of the Beijing regime. But some observers expect him to ease off Trump’s tariffs and re-engage on a diplomatic level.

    Schwarzman headed Trump’s Strategic and Policy Forum, comprised of 16 business leaders. Trump disbanded the panel in 2017 after several of members quit. The Blackstone chair also was involved in trade talks between the US and China, his 2019 autobiography contended.

    Blackstone invests in China’s real estate and pharmaceutical sectors. In November, the firm bought a major Chinese logistics center for $1.1 billion. Schwarzman also founded the Schwarzman Scholars, an international postgraduate scholarship program at China’s Tsinghua University.

    Source: CIO

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Blackstone PE Insider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Carlyle hires BlackRock’s McNeely to work with biggest clients

    July 1, 2022

    Permira considers sale of Funds Platform Alter Domus

    July 1, 2022

    Riveron, an H.I.G. Capital Portfolio Company, acquires Clermont Partners

    July 1, 2022

    ARCH Venture Partners closes $2.975bn Fund XII

    July 1, 2022

    Comments are closed.

    Other Articles

    New Mountain Capital, with Endicott Capital, Announce Closing of 3E Acquisition

    March 14, 2022

    CRH sells US glass business for $3.8 billion

    February 28, 2022

    Vivendi Open to State Control for Telecom Italia Network

    December 6, 2021

    Warburg Weighs Deal for $5 Billion Services Firm Vistra

    November 24, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?