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China warns Trump of 'crushing his own toes' on Taiwan
by Staff Writers
Beijing (AFP) Dec 13, 2016


Chinese billionaire warns Trump about losing US jobs
Beijing (AFP) Dec 13, 2016 - The billionaire owner of China's property-to-entertainment conglomerate Wanda Group has warned Donald Trump that over 20,000 US jobs would be put at risk if the US president-elect mishandles Chinese investment in the country.

"I have over $10 billion investment in the United States and employ over 20,000 people," Wanda's CEO Wang Jianlin said in a forum over the weekend, according to a transcript posted Saturday to the company's official site.

"If things are mishandled, they will have nothing to eat," he added.

Wang said he had asked Chris Dodd, chairman of the Motion Picture Association of America, to deliver his message to Trump.

He was responding to a question about US lawmakers' increasing scrutiny of Chinese acquisitions of American entertainment assets.

"At least in the movie and TV industry, you have to realise that English-language films rely on their Chinese box office for growth," Wang added.

Chinese firms have been on a high-profile overseas acquisition spree in recent years, snapping up leading film studios and television production companies.

Some US lawmakers have said that the Committee on Foreign Investment in the United States, a government group tasked with assessing the national security implications of foreign investments, should examine the deals, including Wanda's.

Wanda bought US movie theatre chain AMC for $2.6 billion in 2012, which in turn acquired the London-based Odeon & UCI cinema group this year in a deal worth around $1.2 billion.

In January, Wanda spent $3.5 billion to purchase Legendary Entertainment, the company behind the "Batman" trilogy and "Jurassic World", as well as the upcoming "The Great Wall", starring Matt Damon and directed by Chinese filmmaker Zhang Yimou.

In November, it acquired the maker of the Golden Globes awards show, Dick Clark Productions, for "approximately $1 billion".

Wang said the attention from the US Congress reflected the Chinese company's growing influence in the country.

"We still have to wait to see Mr. Trump's attitude towards Chinese cultural enterprises after he assumes office," he said.

China offered its sternest rebuke yet to Donald Trump, saying anyone who challenges Beijing's interests in Taiwan will "lift a rock only to crush his own toes".

"If he tries to sabotage the One China policy or harm China's core interests, ultimately he will lift a rock only to crush his own toes," Chinese foreign minister Wang Yi said Monday in Switzerland according to comments posted on the ministry's web site.

China is closely monitoring developments, he said, issuing a warning against "any person or force in the world" looking to play tough with Beijing on Taiwan.

The comments come after Trump said he could jettison Washington's decades-old "One China policy" -- a diplomatic dodge allowing the US to simultaneously do business with Beijing and Taipei.

On Tuesday Chinese media sent another fusillade toward the "presumptuous and ill-guided" president-elect, slamming his approach to Taiwan as a recipe for disaster.

"Beijing should be prepared for the worst-case scenarios, particularly regarding Taiwan, as a presumptuous and ill-guided Trump looks set to usher in an era of turmoil," the state-run China Daily said in an editorial accompanied by a cartoon of the billionaire politician sitting on a powder keg.

"Trump's bloated and bloating ego may prevent him from seeing that is the likely outcome that lies ahead if he persists with this gamble."

China regards self-ruling Taiwan as part of its own territory awaiting reunification under Beijing's rule.

The nationalistic Global Times newspaper warned Trump in its editorial Tuesday that "pride goes before a fall", and said he had lost the "strategic initiative" by revealing his strategy of "blackmailing" China.

"Especially in the Taiwan Strait, China is now confident enough to arm-wrestle with Trump," it said.

Trump shocked the diplomatic establishment and angered Beijing by speaking directly with Taiwan's leader Tsai Ing-wen after his election victory.

After fierce criticism of the move, he upped the ante, taking to Twitter to ask why he should not be allowed to speak to Tsai, then attacking Chinese foreign and economic policy.

On Sunday, he went a step further, saying he did not see why Washington must "be bound by a One China policy unless we make a deal with China having to do with other things, including trade."

The remarks were a step too far for Beijing, which had initially seemed resigned to taking a wait-and-see approach to the president-elect.

Trump's comments also earned a rare rebuke from the White House, with spokesman Josh Earnest warning the president-elect that Taiwan is not a "bargaining chip".


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