Well, what the cranky old man really says is that he agrees that Chinese company Huawei is a national security threat and should be kept on the Commerce Department’s watch list. Soros expressed his opinion in a Wall Street Journal oped.
Soros called Trump’s policy on China, “coherent and genuinely bipartisan” as well as “the greatest — and perhaps only — foreign policy accomplishment of the Trump administration.”
Specifically, Soros said the Trump administration was right to put Huawei on the Commerce Department’s “entity list” as a national security threat, which prevents U.S. companies from engaging in business with the firm.
In the op-ed, Soros called China “a dangerous rival in artificial intelligence and machine learning” but said its ability to compete in the 5G market is seriously hampered by Huawei’s dependence on U.S. companies.
“As long as Huawei remains on the entity list, it will lack crucial technology and be seriously weakened,” Soros wrote.
Soros’s main concern is that the Trump Administration will remove the boot from the neck of Huawei as part of trade negotiations.
“If Republicans allow Mr. Trump to bail out the Communist Party-run telecom giant, they will be abdicating their most basic democratic responsibilities,” wrote the 89-year-old billionaire, whose Open Society Foundations have helped countries transition to democracies.
Soros’s Open Society Foundation has not really lead anyone to “democracy.” The readers at CNBC don’t know that though.
In the meantime, the trade talks and actions with China certainly are creating strange bedfellows. George Soros agreeing with President Donald Trump on anything at all, let alone national security threats is nothing short of extraordinary considering just about every move the man makes seems to be all about the destruction of the United States.