Staff Reports
The latest development from the Biden administration has all the hallmarks of a classic case of mismanaged priorities, especially when a Chinese billionaire with Communist Party ties stands to gain a windfall at American taxpayers’ expense. Li Shufu, the auto mogul behind Zhejiang Geely Holding Group and the second-largest shareholder in Volvo Group, is poised to cash in on a generous $208 million grant from the Department of Energy’s Domestic Manufacturing Auto Conversion Grants program. And yes, while this is labeled as a move to support American jobs, it is hard to ignore the red flags when money flows toward a high-ranking member of the Chinese Communist Party.
Li Shufu has himself been entwined in the complex web of the CCP as a member of the 14th National Committee of the Chinese People’s Political Consultative Conference. This isn’t just a ceremonial role; it is a position that plays a critical part in the CCP’s grand strategy to extend China’s influence beyond its borders. This makes one wonder if U.S. taxpayer dollars truly belong in the hands of someone who may have ulterior motives to benefit China rather than American workers.
“The report spotlights Zhao Yusheng, saying he received $20 million in taxpayer grants… He held a Top-Secret Q clearance.
In 2016, Zhao joined a talent program and left the US for a job at a research center in China… which works on defense projects.” pic.twitter.com/9slYq5m84k
— Select Committee on the Chinese Communist Party (@committeeonccp) July 27, 2023
The Biden administration’s claim that Volvo’s $208 million grant is aimed at sustaining 7,900 union jobs in the U.S. could be seen as a noble gesture if it weren’t for the fact that Li Shufu’s firm holds 15% of the voting power at Volvo Group. With substantial sway over corporate operations and a powerful position in a company that just saw its stock value soar following this announcement, the question arises: who is really benefitting here? It appears that while the White House is busy patting itself on the back for a job “well done,” it might just be pushing American interests under the bus.
Moreover, Li’s connections to the Belt and Road Initiative—a global scheme aimed at increasing China’s influence through strategic infrastructure investments—should send alarm bells ringing. This initiative has drawn backlash for luring countries into a “debt trap,” leaving them vulnerable to Beijing’s political agendas. If the administration genuinely cared about protecting American interests, one would think they might reconsider funneling cash to a prominent advocate for such initiatives.
In defense of their actions, Department of Energy spokespeople assure everyone that this funding supports American jobs. Yet, the situation sounds more like a marketing pitch for a used car than a sound economic policy. The government claims it is investing in American manufacturing while inadvertently enabling a CCP heavyweight to strengthen his grip on a significant foreign enterprise. At what point do U.S. taxpayers demand transparency and accountability from a government handing out their hard-earned cash like candy?
As it stands, Americans might want to buckle up because the journey ahead seems fraught with contradictory policies that favor foreign entities over domestic workers. If the government were genuinely committed to its made-in-American agenda, one would think it could find better ways to support workers without enriching members of a foreign totalitarian regime. With every grant approved, the question remains: how much longer can this charade continue before the American people decide they’ve had enough?
