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Nicolas Asfouri/Getty Images; BNN Edit Wall Street titan Steve Schwarzman launched a $100 million plan to create a global education scholarship program in China to rival the Rhodes Scholarships offered at Oxford University, Peter Schweizer writes in his bestseller Red-Handed: How American Elites Get Rich Helping China Win .
Schwarzman has been called the “supreme leader” of Blackstone, a Wall Street firm with $684 billion of investments. The firm went public in June 2007, but Schwarzman reportedly still holds an iron grip over it, despite only owning around 20 percent of the company he founded in 1985 with Peter Peterson.
Schwarzman has also been called the “China whisperer” for his close connections to the Chinese government and China’s business leaders. Schweizer’s book describes Schwarzman as jokingly claiming he served both as the “unofficial U.S. ambassador to China” as well as the “unofficial Chinese ambassador to the U.S.”
The Schwarzman Scholars program is based in Tsinghau University, which Schweizer describes as “a training ground for Chinese Community Party and government elite.” Chinese dictator Xi Jinping appears to be an alumnus of the school, which has an “Institute for Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era,” established with the cooperation of the Central Committee of the Communist Party of China.
“Students from around the world—but especially the United States—would come and be exposed to the Chinese communist system. Schwarzman explains that his goal in setting up the program is that ‘recipients would return to their countries able to interpret the massive change in China in a way that calmed fears and misunderstanding about the country,’” Schweizer writes.
Red-Handed documents the cozy financial and political connections between the Chinese government and some of the most powerful people in the United States, including powerful U.S. financial institutions like Blackstone, Goldman Sachs, and […]
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