Romney's Bain advisers aided China, Russia growth
Source: AP via Boston Globe
WASHINGTON (AP) — As Bain & Co. head in the early 1990s, Mitt Romney presided over the corporate strategy firm’s expanding operations into China and Russia, helping their initial attempts to move into the world’s free market system.
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In 1993, under Romney’s oversight, Bain branched out in Beijing, where the firm’s consultants held a series of management seminars for Chinese government trade officials, according to documents, interviews and media accounts. At the same time, Bain consultants were advising Russian officials and conducting seminars to aid the post-Soviet business privatization campaign, according to State Department files.
Bain joined a 1990s gold rush of U.S. consulting companies that tutored emerging post-Communist nations in Western management structure and strategy. Former U.S. diplomats and experts in the Chinese and Russian economic systems say Bain’s involvement came at a critical point when both governments sought Western intervention to absorb fundamentals of capitalism.
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Romney campaign spokeswoman Michele Davis would not respond to detailed questions about Romney’s oversight of Bain & Co.’s consulting work. She disputed the timing of his departure, saying it came in 1992 rather than a year later. Davis said Romney concentrated on working ‘‘intensely to turn around the firm.’’ She added that ‘‘no individual businessman can level the playing field with China.’’
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Read more: http://www.boston.com/news/politics/2012/president/candidates/romney/2012/10/10/romney-bain-advisers-aided-china-russia-growth/XJKteWR36AsApxoz3e3o5J/story.html
The AP article notes that the Romney campaign didn't provide any documents to back up their claim that Romney left in 1992.
The AP found documents and news stories from the period showing that "Romney held a top role at Bain & Co. through late 1993."
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