A little more on the Bao May and her sister ships, some 16 to 20 more 180,000 DWT in the fleet. In 1991 at Jiangnan Shipyard there were two of these built and by 2002, 6 more “Capesize Ships”. (the largest dry cargo vessels in the world were commissioned to be built). This took place starting at the Waigaqiao Shipyard in Shanghai China. Then 2014, 6 more of the 180K DWT ships were ordered from the Quingdao Beihai Shipbuilding Heavy Industry Company. These builders are all Government controlled and these last ships cost 55 Million dollars each.
These are largely Chinese crews and they operate out of Chinese ports to carry raw materials in and out of China. Their clients are not only Western companies like Cargill, but Chinese Heavy Industries tied in with the Chinese Military Industrial Complex.
James Chao (Mitch McConnell’s wife’s Father) and Angela Chao were appointed to the board of directors (just as the US Senate was taking up sensitive legislation concerning China.(in 2017) The Chao’s names were listed as “Chinese names” so those in the west would not readily realize who they were. (James Choi = Zhao Xicheng and Angela Chao = Xhao Anji) CSSC (Chinese State Shipbuilding Corporation) and the Chao’s were involved
with CSSC Holding…an offshoot which raised private capital for the Chinese Shipbuilding
defense industries… It was fully subsidized by the Chinese Government. CSSC is at the heart of the Chinese Military Industrial Complex.
Mitch & Elaine McConnell do not have a direct ownership stake in James Chao’s shipping company (Foremost Group) but they are beneficiaries. In 2008 they received a gift ranging between 5 to 25 million dollars. (it more tan doubled Mitch’s wealth) They stand to receive other gifts too. It goes beyond shipping. Elaine has given speeches in China to Chinese Government entities for years ranging $50,000 per speech. (The McConnell’s will not release this information) Also, ,she has corporate relationships as a board member with some of the Chinese Corporations. This is unprecedented in American Political History.
During 2016 Angela Chao was appointed to the Bank of China as a Board Member. China’s banks are strong and tightly linked with the Chinese Government. Further they are an affiliate of the Communist Party. With the Chao family so linked with the Chinese Government how can this not affect Mitch McConnell’s views on China.
Item: Jaing Zemien (former Chinese President) was a classmate of James Chao) Zemien arranged for Mitch McConnell thru James Chao a meeting with the Chinese Shipbuilding Industry, Zemien the Chinese President. This a month after Mitch married Elaine Chao in 1993. At this time China was isolated internationally. (just after Tiananmen Square incident) This was a private meeting for McConnell, nothing to do with American Government) Since that time McConnell has avoided any kind of public criticism of China.
Remember, it is China’s stated ambition to be #1 Super Power by 2030. (and USA #2)
Source: “Secret Empires” by Peter Shweier 2018 pages 75 thru 89 (chapter 5)