Schwarzman Predicts Gentler Biden Approach to Beijing
Blackstone head has been close to Trump, but he also is an investor in Chinese companies.
Blackstone Group Chairman Stephen Schwarzman
One of Donald Trump’s biggest financial backers, Blackstone Group Chairman Stephen Schwarzman, declared that the Biden administration would take a “softer tone” regarding China, and that he expected less animosity between the two countries.
Schwarzman, who also happens to be an investor in China, has remained a Trump confidante, even though the financier publicly urged the outgoing president to accept Joe Biden’s victory.
On the question of punitive relations with China, though, Schwarzman and Trump really part company. “There is really a very substantial overlap of interest in these countries and the interest of the world,” the private equity chieftain said Tuesday in Hong Kong, according to Reuters. “I expect to see much less tension” during the Biden presidency.