Speaker of the House Nancy Pelosi (D-CA), once a fervent critic of the
Chinese Communist Party, changed her tune as ties to Beijing enriched her
family, bestselling author Peter Schweizer reveals in his new book
Red-Handed: How American Elites Get Rich Helping China Win.
Pelosi’s stance perhaps changed most rapidly during the debate over the
2008 Beijing Summer Olympics, an event human rights activists decried as a
travesty given China’s extensive record of atrocities against its own
people. Opponents of the Games argued at the time that granting China such
a tremendous honor and showcase for the Communist Party would embolden it
to commit even greater horrors.
A year later, China sent paramilitary troops to crush a peaceful protest
by members of the Uyghur community of East Turkistan, killing dozens and
setting in motion the events that would lead to dictator Xi Jinping
currently presiding over concentration camps that, at their peak, were
estimated to imprison as many as 3 million people.
Nancy Pelosi (D-CA), right, stands with Reps. Christopher Cox (R-CA),
center, and Tom Lantos (D-CA), left, at a press conference on March 21,
2001, announcing their opposition to China’s 2008 Olympic bid. (SHAWN
THEW/AFP via Getty Images)
The Dalai Lama poses with House Speaker Nancy Pelosi (D-CA) before
speaking in front of the U.S. Capitol on October 17, 2007. (Stephanie
Kuykendal/Getty Images)
Early in her career in Congress, Pelosi was one of the most vocal
anti-Beijing voices in Washington, Schweizer writes. Pelosi so opposed the
Communist Party that she protested against the Tiananmen Square massacre
in Tiananmen Square.
“In 1991, as a junior member of Congress, Pelosi found herself in
Tiananmen Square. She was part of a congressional delegation visiting
Beijing barely two years after the horrific events had unfolded,”
Schweizer writes. “Pelosi … covertly carried a banner into the middle of
the square and unfurled it in front of a small crowd and the media. ‘To
those who died for Democracy in China,’ it read.”
Rep. Nancy Pelosi (D-CA) with Rep. Ben Jones (D-GA), left, and Rep. John
Miller (R-WA), right, hold a banner in Tiananmen Square on September 4,
1991, to honor the pro-democracy protesters slain by China’s communist
regime in the 1989 massacre. (AP Photo)
Speaking at a rally at the U.S. Capitol on June 4, 1991, to commemorate
the Tiananmen Square massacre, Rep. Nancy Pelosi (D-CA) holds up a watch
smuggled out of China. Pelosi said these watches were given to soldiers
who helped crush the Tiananmen Square pro-democracy protesters. (CHRIS
ASSAF/AFP via Getty Images)
Schweizer also notes that Pelosi “actually fought against
most-favored-nation trade status and bringing Beijing into the World Trade
Organization.”
As her husband Paul Pelosi’s business ties in China grew, however,
Pelosi’s human rights advocacy waned.
Husband Paul became a partner investor in Matthews International Capital
Management, a pioneer in the Chinese investment market. He also invested
in several other companies whose success depended upon business with the
Chinese Communist Party.
“Paul Pelosi’s classmate from Georgetown, Vincent Wolfington, set up a
limousine service called Global Ambassador Concierge, which catered to
ultra-high net-worth individuals traveling around the world,” Schweizer
documents. “One big market for Global: the Beijing 2008 Summer Olympics.”
“In Congress, Pelosi had initially been critical of China hosting the
games, arguing that its human rights record should prevent it from such an
honor,” Schweizer writes. “The year after her husband bought shares in
Global Ambassador Concierge, she reversed course and opposed a boycott of
Beijing’s hosting of the games.”
Two years later, according to Red-Handed, “the Pelosis held between $5
million and $25 million in a Matthews fund ‘specializing in Asian
investment.’ Paul Pelosi received partnership income between $100,000 and
$1 million.”
Nancy Pelosi (center) arrives with her husband Paul Pelosi (left) and son
Paul Pelosi, Jr. (right) at the 35th Kennedy Center Honors in Washington,
DC, on December 2, 2012. (Drew Angerer/AFP via Getty Images)
Today, Pelosi faces much the same situation: a session of the Olympic
Games in Beijing, opposed by a large contingent of human rights activists
who fear that China’s repression may increase even further after two weeks
of global adulation. Unlike last time, the 2008 Summer Games precedent
lends heightened credibility to these concerns.
Pelosi has opposed calls to authentically boycott the 2022 Beijing Winter
Olympics, asserting, “We must support and celebrate our athletes.” She has
instead supported a “diplomatic boycott” of the event. A “diplomatic
boycott” is not a boycott, as diplomats do not compete in the Olympic
Games.
“As one united international community, we have the opportunity and
responsibility to hold Beijing to account and to stand up for human
dignity and freedom in the region and around the world,” Pelosi said in a
statement after the administration of President Joe Biden announced a
“diplomatic boycott” of the 2022 Olympics.
Shortly before the Games began, Pelosi warned athletes not to behave like
she once did in Tiananmen Square and keep their criticisms of the regime
to themselves.
“I would say to our athletes — you are there to compete,” Pelosi said. “Do
not risk incurring the anger of the Chinese government because they are
ruthless.”
Pelosi has not commented at press time on the subsequent revelation that
Biden administration diplomats have applied for visas to attend the
Olympics, contrary to the White House’s vow not to send official
representation.
Red-Handed debuted at number one on the New York Times bestseller list on
Wednesday, one week after its release by HarperCollins.