Former President Donald Trump has spent years blasting politicians who are linked to China, particularly when it comes to Joe Biden. It turns out, however, that Trump was the one who had business dealings the whole time in the Communist country.
Among the details released in Trump's taxes this week was that the former president had a bank account in China and the reason isn't clear.
"So, first of all, so long as he disclosed these accounts, that's not an issue," explained Trump biographer David Cay Johnston. "Donald has businesses in other countries, especially India. Of course, he could have corporate bank accounts in those countries. China was interesting because Trump denied having any bank account in China. Why did he lie about that? Why did he not correct the record about that? Certainly, it's something that needs to be looked at."
He went on to suggest looking into foreign governments putting money into Trump's pockets, "because he says when people give him money, he likes them. We saw the Saudi government, the dictatorship in Riyadh, do this in a variety of ways, including renting out at the top rate one or two entire floors in the former Trump Hotel in Washington, D.C."
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During the final presidential debate between Trump and Biden, the latter accused Trump of having a Chinese bank account and doing business in China. Trump shook his head as Biden made the accusation. It was then that Biden asked Trump why he'd never released his tax returns and what he was hiding. Trump falsely claimed that Biden had taken millions from Ukraine, but those finances have never been found despite the IRS policy to perform audits on presidents. Trump's IRS commissioner refused to abide by that policy, however.
Despite criticisms from Trump, the former Morgan Stanley chair in Asia told Fortune that Biden is much tougher on China. Trump's trade deal with the country flopped, said an economist from the conservative Peterson Institute.
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