Bush's brother has US$400,000 contract with Chinese firm

People Daily ^ | 11.29.03

[Dr. Marten]

Bush's brother has US$400,000 contract with Chinese firm

Neil Bush, a younger brother of US President George W. Bush, has a 400,000-dollar-a-year consulting contract with a Chinese computer chip manufacturing firm, The Los Angeles Times has reported on its web site.

Citing court documents filed in the course of Neil Bush's divorce proceedings in Houston, Texas, the newspaper said the president's brother had agreed to strategize with China's Grace Semiconductor Manufacturing Corp at the same time the Bush administration is trying to help US firms compete more effectively against the Chinese.

Grace Semiconductor, based in Shanghai, was founded in 2000 by Winston Wong, the son of Taiwanese business magnate Wang Yung-ching, the Times said. Wong co-signed the contract with Bush.

There is no indication that Neil Bush has done anything improper, according to the report.

However, the arrangement could attract attention during a presidential election cycle in which Chinese business practices have become a hot button issue, The Times said.

"There's certainly the appearance of influence being sought," the paper quotes Charles McMillion, a Washington business consultant who advised a congressional commission on US-China policy as saying. "If nothing else, it doesn't look good."

Bush's divorce from Sharon Bush was finalized in April.

According to the consulting contract, Neil Bush was to receive two million dollars worth of Grace Semiconductor preferred stock over five years, issued in annual increments of 400,000 dollars, the paper said.

In return, Bush agreed to "provide GSMC from time to time with business strategies and policies; latest information and trends of the related industry, and other expertized advices," the report quotes the contract as saying.

Bush signed the contract on August 15, 2002, according to The Times.

The report said it was not clear how much compensation Neil Bush had received so far.

The contract said he would receive the first 400,000-dollar allotment within one month of the company's 2002 board meeting, "provided you have duly furnished GSMC with the information and details required for the issuance or transfer of the share certificate," according to the paper.

The company has said its goal is to become a leading manufacturer of integrated circuits and other semiconductor products, according to the report.

It has invested 1.6 billion dollars to build two manufacturing plants in Shanghai. Production from the first plant began in September, The Times said.

President Bush has three brothers -- Jeb, the current governor of Florida, Neil and Marvin -- as well as one sister, Dorothy.

[Trust but Verify]

No, I'm not 'uniformed', I just don't buy into the fear that China is an enemy, at least not in a military sense. Wouls I like our trade imbalance with China to be better? Yes I do, but having American companies doing business there, etc is a GOOD thing, not a bad thing.

[maui_hawaii]

Doesn't G.H.W.Bush also have close ties with the Chinese, dating back to before his presidency?

Uh, yeah. Like for the past 30 years.

There is a long line of Bush's with long resumes regarding China.

GHW Bush was sitting at the UN table for the US when the PRC was allowed into the UN.

As far as China watchers/followers go, most would give a left arm to have the Bush name in China.

[Maria S]

“The Bush family loves statist dictatorships, starting with Prescott Sr. being in bed with Nazis.”

That is a falsehood long perpetrated by liberals, and anyone continuing to try to sell it should be ashamed. The following excerpt is interesting, I think. If you want to read the rest of the article, the URL is here, also. PLEASE NOTE: the author of this piece is NOT a conservative republican Bush supporter!!

Bush ‘Nazi’ Smear Unworthy of Critics
by Joe Conason
http://www.observer.com/pages/story.asp?ID=8054

This column ran on page 5 in the 10/27/03 edition of The New York Observer.

Liberal invective against George W. Bush has not yet descended to the depths plumbed by conservatives in their crusade against the Clintons, but that isn’t because nobody’s trying. Mr. Bush’s most zealous opponents apparently believe that his faults, and those of his cronies and his administration, will be insufficient to unseat him next year.
-snip-
Henry Ford was a Nazi collaborator. Joseph P. Kennedy Sr. was a Nazi sympathizer. Unless additional information emerges to indict him, Prescott Bush Sr. was neither. To misuse such terms for political advantage against his grandson is to trivialize very grave offenses.

[Pan_Yans Wife]

As far as China watchers/followers go, most would give a left arm to have the Bush name in China.

Why is that, specifically? Is this in terms of American influence on China?

[Willie Green]

Thank-you for proving my point.

[maui_hawaii]

A lot of it has to do with history IMO. Imagine if Benjamin Franklin came and dropped in for dinner? Seriously. He was back there when it all started no?

As far as China goes, GHW Bush is HIGHLY regarded among many Chinese. Their country wasn't even recognized until 1972.

In some ways it might be about current influence, but moreso about history and power.

They are seen as a powerful family with lots of influence. A lot of Chinese look at them very highly.

[maui_hawaii]

Part of the problem when GW took office was the history of his family with China.

GW wanted to be tough on them, but the Chinese were talking about "junior should be like his father"...

It really just made the whole situation worse.

In all reality some Chinese were excited for GW to come into office merely because he is a Bush.

Others were scared sh##less because they knew there was LOTS of tensions built up between the US and China.

Even now, the family history there has some influence. I am not talking about one person or another telling GW what to do, but rather the legacy GW is dealing with.

Back under Clinton China was talking some serious stuff and shooting missiles.

Under GW there ain't no way. The consequences are there and pretty much guaranteed. With GW the Chinese are actually being far more civil than with his predecessor.

Some Chinese see things like "yeah America doesn't understand China, but if we offend the family of THE Bushes thats not good. They have historically been good to China, so someone on our team must be causing trouble".

Its not just people that matter in China. Its the whole family. Its a cultural thing.

[Pan_Yans Wife]

The importance of family, within their culture does help to explain their reverence for the Bush family. This type of influence is a positive, in my opinion. Another reason to be thankful that Bush is in office, I believe.

Thank you for your take on it.