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Trump-linked project in Indonesia to receive $500 million in funding from China - sm

Posted: May 15th, 2018 - 1:39 pm

From the article on Shanghaiist:

"While this sort of questionable and corruptible fusion of private business and the presidency has been part of the President Donald Trump experience from the very beginning, the Lido project has managed to raise more eyebrows than usual, coming just as Trump has made the unusual decision to publicly step forward to protect Chinese phone maker ZTE and save Chinese jobs.

ZTE is facing financial ruin at the moment after being hit with a crippling ban from the US Commerce Department which forbids American companies from selling to the firm for the next seven years. The ban came after ZTE was found to have broken an agreement reached last year with the US when it was caught illegally shipping millions of dollars of American hardware and software to Iran, violating sanctions.

Considering Trump’s “America First” persona and his fiery rhetoric against Iran, many were stunned and perplexed by his pro-ZTE tweet on Sunday. Some have now insinuated that the US president’s sudden support for the Chinese phone-maker comes because of the $500 million in loans from Beijing."

LINK/URL: Trump-linked project in Indonesia to receive $500 million in funding from China


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