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Mike Forsythe 傅才德 Profile picture
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20 Dec, 5 tweets, 2 min read
Reminder: one of the investors in Canoo is Li Botan, the highly, um, acquisitive son-in-law of the former number 4 ranking member of the Chinese Communist Party. More on him here: nytimes.com/2015/04/29/wor…
He shows up here in this 2014 story as well, as his business empire intersected with future abductee billionaire Xiao Jianhua. nytimes.com/2014/06/04/wor…
His daughter is a symbol of China’s gilded age, attending a splashy Paris debutante ball. offshoreleaks.icij.org/stories/jasmin…
And Li himself joined Evergrande boss Xu Jiayin and other moguls on an extravagant trip to France in 2011. The group spent $100,000 on a Chateau Lafite wine drinking fest. Detailed here in this story with @jotted citing the book “Red Roulette” nytimes.com/2021/09/28/bus…
And Li Botan was business partners with the author of Red Roulette, Desmond Shum, and his wife Whitney Duan, who in turn were business partners to the family of Wen Jiabao, then China’s premier and the number 3 member of the CCP. Image

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More from @PekingMike

Mike Forsythe 傅才德 Profile picture
20 Nov
CHINA'S RISE to dominate the clean energy revolution is a story that can be told from many angles. The miners in Congo, frustrated US diplomats in DC. Here, I'll show you how Chinese company documents tell their own tale, and can deepen your understanding of China. A THREAD(1/x)
First, read our story, led by @dionnesearcey from in the DR Congo, @EricLiptonNYT in DC. It shows how the tired "great game" rivalry is playing out again in Africa, this time over the new oil - minerals that are driving the clean energy revolution. (2/x)
nytimes.com/2021/11/20/wor…
@dionnesearcey @EricLiptonNYT From almost nowhere 15 years ago, China has come to dominate cobalt production in DR Congo, which produces 2/3s of the world's supply. Cobalt is a key ingredient in many EV batteries. HOW did China come to dominate? There are a lot of reasons. Read the story. (3/x)
Read 28 tweets
Mike Forsythe 傅才德 Profile picture
24 Sep
THREAD: The book "Red Roulette" is a rare insider's account about corruption at the highest levels of China's government. Much of what the author, Desmond Shum, says can be backed up with documents. But the docs also show how much he may be holding back. Let's dive in! (1/x)
(2/x) First, have a read of @LiYuan6 excellent article about the book. No one is better plugged in than she is. nytimes.com/2021/09/24/bus…
@LiYuan6 (3/x) So the biggest claim in "Red Roulette" centers around the gigantic stake the Wen family took in Ping An Insurance ahead of its 2004 IPO. This was facilitated by Shum's wife, Duan Weihong (Whitney Duan).
Read 35 tweets
Mike Forsythe 傅才德 Profile picture
24 Mar
THREAD: The horrific murders of 8 people last week in Atlanta have led us to focus more on the spa industry, specifically who OWNS and operates the spas. The answers surprised us. nytimes.com/2021/03/24/us/…
2/x. First, read the story. @corinaknoll , the lead writer, really draws a contrast between the lives of two branches of Asian-Americans - a group w/ the biggest wealth gap in the US. @FrancesRobles and I combed records and made calls. @YLindaQiu hit the pavement in Atlanta.
3/x. We were surprised to find that the CEO of "Gold Hotlanta," the company that runs the Gold Spa, is a prominent Taiwanese-American businessman set to become head of the World Taiwanese Chambers of Commerce. Taiwan's government made video about him:
Read 13 tweets
Mike Forsythe 傅才德 Profile picture
4 Feb
THREAD: McKinsey is settling with 47 states over its work with opioid makers, but there is MUCH more in the settlement. FOLLOW ALONG. By me and @waltbogdanich nytimes.com/2021/02/03/bus…
2/x: So McKinsey isn't admitting wrongdoing, but they are submitting to some big court-ordered changes. First, McKinsey has agreed to stop doing consulting work for pharmaceutical companies for certain types of addictive narcotics.
3/x: McKinsey will also retain emails for five years (that is a really long time for a company) AND will agree to disclose to states if there are conflicts of interest with the work it is bidding on, AND...
Read 12 tweets
Mike Forsythe 傅才德 Profile picture
31 Jan
One reason there hasn’t been a good biography of Xi Jinping is the enormous personal cost. The CCP jealously guards his official story. Attempts to do in-country research on his youth or his decade in Fujian is dangerous for you, anyone working for you, and anyone you interview
And how can any serious biography not make a bold attempt to get to the bottom of his time as a teenager in the Cultural Revolution or his meteoric rise in Fujian during a time the province was awash in massive corruption scandals. And what about his first wife?
The lack of a good Xi Jinping biography is a window into the nature of authoritarianism and the profound differences between Russia under Putin and China under Xi. This is obvious to many but I still find it remarkable, so will remark.
Read 7 tweets
Mike Forsythe 傅才德 Profile picture
27 Nov 20
JUST POSTED: New details on McKinsey's work with OxyContin maker Purdue Pharma. In 2018 two top McKinsey consultants discussed possibly "eliminating" emails and documents. Much more. @waltbogdanich and me.
nytimes.com/2020/11/27/bus…
@waltbogdanich The email McKinsey senior partner Martin Elling sent to his colleague Arnab Ghatak on July 4, 2018. Image
@waltbogdanich McKinsey also, among several options, proposed that Purdue pay rebates for opioid overdoses or opioid use disorder cased by its product...not to the victims, but to the Pharmacy Benefits Managers like CVS and Anthem. See this slide (this is all from a court filing last week) Image
Read 10 tweets

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