Over lunch, Mr. Guo and Mr. Bannon discussed China’s military capabilities, as well as the financial implications of Beijing’s rule, including what impact the country’s mounting corporate debt might have on its economy.
A friendship emerged.“It was fantastic. He really impressed me,” Mr. Bannon said of his first meeting with Mr. Guo. “We talked about President Trump’s approach to China, and he went into corruption in the Chinese Communist Party.”
Mr. Bannon later introduced Mr. Guo to people in the hedge fund community, including J. Kyle Bass, who has soured on China and sought to profit by short-selling the Chinese currency.
Source: Steve Bannon and a Fugitive Billionaire Target a Common Enemy: China – The New York Times
By June 2017, the relationship was crumbling. Mr. Youssefzadeh, concerned that Global IP couldn’t prove its independence from the Chinese government, ordered Global IP’s general counsel to investigate whether its structure still left it eligible to own a U.S-made satellite.
The attorney cited “control through intimidation” and other tactics by the China-approved directors to conclude that Global IP couldn’t prove it was independent of Beijing.
Global IP board members refused to convene to discuss the general counsel’s conclusion, according to Messrs. Youssefzadeh and Javed.
Source: China Maneuvers to Snag Top-Secret Boeing Satellite Technology – WSJ