Billionaires in Beijing

Seventeen American 1%ers, billionaires, worth over a Trillion dollars, traveled to Beijing with Trump this past week. Only two of the seventeen flew with him on Air Force One, Elon Musk with his 6-year son, and Jensen Huang, NVIDIA CEO. The bulk of the to-be-silent-in-sessions commercial guests arrived on their own jets.Of course, these prominent executives spoke out of sessions with their suppliers, current and potential customers as they were restricted from speaking in joint sessions with the Chinese government -certainly not to approach or engage with Xi. The billionaires were there for show - to bolster Trump’s image in his rather effete era of Iran, Epstein, and denials of economic strain for everyday Americans.American billionaires are 8 of the world’s 10 richest and 24 of the world’s wealthiest 50. Those in attendance are ambitious, Trump donors, seeking to expand trade with and within China - -to enhance their presence in the world’s second-largest economy bursting with market growth.

The China show was glitzy yet not sprouting high tangible success.Trump boasts that Boeing for the first time in a decade walked away with a Chinese buy of 200 Boeing planes, a smaller portion than the 500 planes being discussed prior to the trip and expected on Wall Street where Boeing stocks dropped almost 5% the day after the trip. Trump also bragged deals were made for soybeans and energy. Beef export licenses were restored yet strict quotes limit positive impact for US farmers. The beneficial impacts to the US of the China summit remain uncertain: Trump boasts while China is silent on “agreements” made.Unclear are any agreements discussed or confirmed by the billionaires independently.Unclear were any gains garnered by Eric Trump, his wife, as lucrative opportunities are the core of the Trump family.Ivanka Trump’s company was granted approval for three trademarks in 2017 at a Mar-a-logo dinner with President Xi.Jared topped 2 billion $ for his investment firm from the Saudis just after the 2024 election.

Missing from the list of prominent US billionaires on this trip were two who would individually rank as in the world’s top 25 wealthiest - Winnie the Pooh and Mickey Mouse - each worth $80 billion plus.Pooh is cartoon non-grata in China, banned, censored actually as Xi is frequently likened to Pooh - round if not yellow- by Xi critics on line.What began as humorous fun poking has risen to Pooh recognized as an international symbol of resistance to Chinese internet censorship. Disney’s Pooh and friends are deleted from all Chinese social media platforms and denied any entertainment venues - Christopher Robin, a Disney film released in 1918, was/is banned in China. Mi Lao Shu, Mickey Mouse, is highly popular, a massive brand icon, prominent at Shanghai’s Disneyland and thus far uncensored.

Notably also banned in China was Marco Rubio - not a billionaire- just the Secretary of State as well as National Security Advisor.In 2020, China banned Rubio for his many negative statements regarding China and Xi.His name was transliterally changed to Marco Lu and thus granted entry, enjoyed talks and dined with the elite.Although tough Chinese words on Taiwan were reported, it is unclear if any Chinese assistance in the opening of the Hormuz Straits were applied for or received.

Photos in Beijing of Xi and Trump were of interest.Xi, 5”11 and Trump 6’2 (or perhaps 6’3) appear to be of equal height – neither shorter, smaller, lesser.Trump commented on Xi’s central casting looks, in particular he noted Xi is “very tall”.It is rumored that Xi wore height enhancing insoles.Trump is rumored to have had difficulty climbing steps – particularly a 30-step flight entering the Great Hall of the People. Xi paused to allow Trump a catch of breath, then placed a hand on Trump’s back up the remaining stairs.72 and 79, both men with indelible egos, vanity and intolerance a plenty.

May the world retain, struggle to improve balance and prosperity as two spoiled and pampered heads of state face off for power and influence – in China amid centuries of history and a bevy of American billionaires.

Kathy Herald-Marlowe lives in Sharon.