Pennsylvania Republican Profited From China Trade Policies He Helped Shape
Source: Huff Post
Mar 19, 2024, 04:30 PM EDT
David McCormick, the leading Republican Senate candidate in Pennsylvania, helped open up China to U.S. investment as an official in the George W. Bush administration. Then, as a hedge fund manager, McCormick profited from the lower investment barriers he lobbied for. What’s more, he is now railing against politicians who were too eager to open up trade to China, including through certain kinds of U.S. investments.
“To put it bluntly, China poses the greatest threat to our security and our well-being since the end of World War II,” McCormick said while rolling out his China policy agenda in December. “And our nation’s leaders, including career politicians like Pennsylvania’s Senator Bob Casey, have gotten China wrong for more than two decades.”
McCormick is taking on three-term Sen. Bob Casey (D-Pa.) in a battle that could help determine control of the Senate in November. A loss for Casey on a Senate map already tilted against Democrats would virtually ensure a Republican takeover of Congress’ upper chamber. But as McCormick accuses Casey of being soft on China, the Republican contender’s record as a top Treasury Department official shows he repeatedly worked to open up investment opportunities in China for American financial firms.
His work not only helped meld the two countries’ economies in a way many American politicians have come to regret, but also benefited him personally in his subsequent roles as president and CEO of a massive hedge fund. McCormick’s campaign did not respond to a request for comment on his tenure in the George W. Bush administration and its relationship to his subsequent business dealings.
Read more: https://www.huffpost.com/entry/david-mccormick-pennsylvania-republican-china-trade-policies_n_65f9cd44e4b03f22de60f0f8
This is the carpet-bagger running against PA (D) Senator Bob Casey, Jr.
