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George Bush Sr., and Chinese Communist Money
Date: Sun, 6 Jul 1997 04:15:44 -0500 (CDT)
From: gra@inetport.com

BUSH CASHES IN ON COMMUNIST CHINESE CONNECTIONS

As reported in The Wall Street Journal (5/29/97, p. 1), "When Atlantic Richfield Co. wanted to add dazzle to its opening bash for a $1.1 billion natural-gas project in China last year, the company turned to the former president and China envoy, who enjoys superstar status in Beijing. Arco paid Mr. Bush's traveling expenses to the banquet, plus a $100,000 speaking fee."

$100,000 LECTURE FEE HELPS ARCO OPEN DOORS
"Chinese President Jiang Xemin showed up, as did Wang Yan, president of the company responsible for offshore gas exploration. They joined Mr. Bush, Arco Chairman Mike Bowlin and other Arco executives. Mr. Bush and the Arco people also mingled with Vice Premier Zou Jiahua, the government minister most closely associated with energy activities, in a luncheon at the Great Hall of the People on Tiananmen Square. "`Events like this help renew contacts,' Arco spokesman Albert Greenstein says. `Mr. Bush is a well-known figure in China. It helped to raise our profile in the region.' "The former president is in demand by U.S. companies as a prestige-builder both at home and overseas, but especially in places like China, where guanxi, the phrase for political connections, is considered a prerequisite for doing business."

40 COMPANIES GIVE GEORGE THE QUID FOR HIS PRO QUO
"In the four years since he left office, Mr. Bush, already a wealthy man, has earned millions of dollars speaking publicly for about 40 companies. He has traveled to China for corporate employers at least eight times and visited other Asian countries as well. He usually charges $100,000 for trips abroad and $80,000 for domestic appearances, plus expenses, though his fees can vary."

GOLDMAN, SACHS IS AN EQUAL OPPORTUNITY EMPLOYER
"For this, Mr. Bush generally restricts himself to giving speeches and rubbing shoulders with corporate executives and high-level government officials. Many companies are willing to pay Mr. Bush for his services; those firms include Citicorp's Citibank unit, IMC Global Inc., Canada's Barrick Gold Corp., Goldman, Sachs & Co. and various media companies, including Dow Jones & Co., publisher of The Wall Street Journal.... "The former president uses both a lecture agent, Washington Speakers Bureau Inc., and his staff to make bookings. The fees he earns are in addition to the public money he receives, including his annual federal pension of $148,000 and a staff allowance of $96,000...."

BUSH PEDDLES BUSHWA IN BEIJING
"Appearances by the former president give his corporate employers bragging rights. In its 1996 annual report, IMC Global, a Northbrook, Ill., fertilizer seller, noted that Mr. Bush was the keynote speaker at its September 1995 `World Food Production' conference in Beijing. `Two months later,' IMC Chairman Wendell Bueche informed shareholders, `an unprecedented full-year agreement for the sale of diammonium phosphate [a chemical fertilizer] was reached with Sinochem, China's central buying agency.'..."

BRUTALITY IS NO BARRIER
"For the 1994 event, CP Group invited Mr. Bush to receptions with Chinese leaders and CP executives. In one of his CP speeches, Mr. Bush defended his decision as president to remain engaged with China despite its bloody crackdown on democracy protesters at Tiananmen Square."