Michael Bloomberg is not only the former mayor of New York City and a recently announced candidate for president of the United States; he is also the richest person in New York State and the fourteenth richest person on earth. This wealth, however, has not prevented him from praising Communist China. To be sure, Bloomberg refuses to admit that China is, in fact, Communist. Well, yes, he acknowledged that it’s run by something called the Communist Party, but, in a September 27 interview with PBS, he was quick to add that the Party “wants to stay in power in China, and they listen to the public. When the public says I can’t breathe the air, Xi Jinping is not a dictator; he has to satisfy his constituents or he’s not going to survive.”
Politically correct though PBS may be, Bloomberg’s interviewer, Margaret Hoover, was, to her credit, so taken aback by Bloomberg’s claim that she actually responded by saying, with obvious astonishment: “He’s not a dictator?” “No,” replied Bloomberg. “He has a constituency to answer to.” Hoover, admirably, wasn’t buying this fantasy: “He doesn’t have a vote. He doesn’t have a democracy. He’s not held accountable by voters.”
Bloomberg went on to defend China’s environmental policies. Note that we’re speaking of a country that is such a serious polluter that a large percentage of its people walk the streets wearing masks to prevent them from inhaling deadly particles.
Is Bloomberg dumb? Of course not. You don’t get to be a billionaire by being an idiot. The fact is that few Americans who are as rich as he is don’t have financial interests in China. While the billionaire currently in the White House feels he owes it to the American people to take on the hefty Chinese tariffs that have contributed to that country’s swift economic growth and to the destruction of much of the American manufacturing sector, other U.S. billionaires, such as Bloomberg, prefer not to rock the boat and thereby protect their own financial interests at the expense of American factory workers. As New York magazine noted when reporting on Bloomberg’s remarks earlier this month, “The billionaire has vast financial interests in China, and those interests have allegedly compromised his civic-minded endeavors in the past. In 2013, the New York Times reported that Bloomberg News had killed an investigation that had threatened to upset Chinese officials.
As Kim Hirsch asked on December 3 at the Victory Girls Blog, “What is it about billionaires when dollar signs mean more to them than oppression of other humans? Or even the security of their own nation?” Hirsch noted that China has not only “organized mass detentions of Uighur Muslims in the western Xinjiang province” but that the International Consortium of Investigative Journalists (ICIJ), in November, “exposed China’s operating manuals that use data analysis to select whom they will detain. Not criminal activity. Just algorithms. As a result, people randomly disappear.” Hirsch quoted an Australian analyst who explained: “That’s how state terror works. Part of the fear that this instills is that you don’t know when you’re not OK.” But what should any of this matter to the fourteenth richest person on earth, who, as Hirsch reported, is “financing Chinese companies through US investor dollars he sends to the Chinese bond market.”
It’s funny how these things work. Bloomberg is 77 years old, and has $54 billion in assets. You might think that at this stage of his life, he’d figure he had enough money and, like Trump (who has lost billions in net worth since he became president), decide to give back. Well, Bloomberg seems to be the poster boy for the fact that some people, no matter how rich, just aren’t interested in giving back. Trump, whatever you think of him, is at least a regulation-cutter driven by a core belief in individual freedom: Bloomberg, famous for banning large sodas while mayor of New York, is a control freak, a man who craves power, and a man whose love of power and control are palpably driven by a desire to ensure that his bank balance keeps rising until he meets his maker – to whom, if that event actually takes place, he will have to explain his readiness to whitewash Chinese Communism, sell out American labor, and pick up more money than one man could ever spend in a hundred lifetimes.