Send English News: Click Here | Confirm English News: Click Here

Subscribe

Tuliskan Alamat Email Anda. Gratis!

Delivered by FeedBurner

Trump project in Indonesia gets Chinese government partner

Posted by On 11:58 AM

Trump project in Indonesia gets Chinese government partner

  • Trending Videos CBSN Live »
  • CBS Evening News

    Trump calms fears of a trade war with China

  • CBS This Morning

    Deadly storm s ystem in Northeast

  • 60 Minutes Nature

    Matchmaking for zoo animals

  • CBS This Morning

    Hawaii volcano spews giant plumes of ash

  • CBS This Morning

    North Korea threatens to cancel U.S. summit

  • CBS This Morning

    W.H. continues planning Trump-Kim summit

  • CBS This Morning

    Black man dies after La. detectives struggle

  • CBS This Morning

    Deadly Southern California explosion

  • CBS This Morning

    Will Meghan Markle's dad miss royal wedding?

  • CBS This Morning

    Family of climber who died on Mt. Hood sues

  • CBS This Morning

    Impact of rural hospital billing schemes

  • Money

    Don't repo my Fido: Ban on pet leasing proposed

  • Money

    Trump project in Indonesia gets Chinese government partner

  • Money

    This little-known credit database boo sts fraud risk

  • Money

    Rush to cash in on sports betting is on

  • Money

    Trump takes on a convoluted nemesis: Rising drug costs

  • Money

    Deducting home loans interest is trickier under new tax rules

  • Money

    Mom's "wages" aren't keeping up with the job market

  • Money

    The smart way to borrow for a new or used car

  • Money

    Robocaller hit with record $120 million fine

  • Money

    Rolls-Royce rolls out first SUV -- with a $325K price tag

  • Money

    Anbang founder gets 18 years for fraud, forfeits $1.6 billion

  • Money

    Sedans are out of favor, leading to discounts on the lot

A Chinese government-owned company has signed on to build a theme park in a vast development in Indonesia that also features a Trump hotel and condos, a deal that stands to benefit President Donald Trump's company just as top Chinese envoys head to Washington for trade talks.

In a move that has alarmed Trump critics, an Indonesian company confirmed this week that it hired the subsidiary of the state-owned Metallurgical Corp. of China to build a theme park in its Lido City development outside Jakarta. The property owner three years earlier struck a deal for the development to include a Trump-branded hotel, 400 luxury villas and condos, and an 18-hole championship golf course.

The partnership comes at an awkward time, with Mr. Trump pursuing an "America First" trade policy and introducing tariffs on Chinese imports. The president is seeking to cut the chron ic U.S. trade deficit and gain concessions over policies that foreign companies say force them to share technology with Chinese partners in order to gain market access.

Even though Trump's involvement in the project predated his election, ethics experts say it's still trouble for the president, possibly putting him in violation of the emoluments clause of the Constitution, which bans gifts from foreign governments.

"This clearly benefits the Trump Organization, and therefore its owner Donald Trump," said Harvard Law professor Laurence Tribe, who is advising on several lawsuits against the president. He added that it is irrelevant if the benefit came "indirectly" from China through the Indonesian company.

MNC Land, the Indonesian company that is developing the park, is owned by billionaire Hary Tanoesoedibjo, who attended Trump's inauguration last year. In a statement, MNC Land said the Trump Organization has "no relationship& quot; with the theme park that the Chinese company is building. It also said that news reports that a Chinese government-backed $500 million loan for the project had been signed were false.

White House officials steered clear of talk of Chinese backing for the project, dismissing the belief that it could violate the emoluments clause or the Trump Organization's pledge to refrain from new foreign business while the president was in office.

Staffers pointed to an answer Monday from White House deputy press secretary Raj Shah, who referred all questions to the president's business. The Trump Organization declined to comment.

The deal also raised questions about possible links between the investment and the president's seemingly out-of-the-blue tweet Sunday in which he called for Chinese telecommunications company ZTE to "get back into business, fast" because "too many jobs in China" had been lost, a call to help that seemed a stark d eparture from Trump's "America First" foreign policy.

Just last month, the Trump administration ordered a seven-year halt in American shipments of computer microchips and software that are at the heart of most of ZTE's telecommunications gear. The Commerce Department accused ZTE of violating American sanctions by selling to Iran and North Korea. ZTE phones had also been banned from U.S. military bases earlier this year over fears they could pose a security threat.

White House officials denied any connection between the company and the Indonesia project. Instead, they framed the tweet as a call to protect American jobs â€" many of the ZTE components are made in the United States â€" and placed it in the context of ongoing negotiations about trade between the two countries certain to accelerate when senior Chinese officials arrive in Washington later this week.

The overture could also reduce tension with Beijing as Trump leans on China for help in the weeks before his summit with North Korea leader Kim Jong Un in Singapore.

© 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

Featured in Moneywatch

  • 20 of the coolest places to retire i n the world

    Find out what activities and attractions make these 20 cities and town some of the best places to retire around the world

  • 10 products you should never buy generic

    Generics are a great way to save money in lots of cases, but here is a look at some clear exceptions

Popular

Market Data

Latest Features

  • Amazon pulls products mocking mental illness

  • Trump's financial disclosure form mentions Cohen reimbursement â€" live updates

  • Don't repo my Fido: Ban on pet leasing proposed

  • Cheesecake Factory: MAGA hat incident overblown

  • Salesforce CEO calls for a national privacy law

Market News

< h2>Moneywatch Spotlight
  • Russian trolls' standout Facebook ads

  • Facebook promises better privacy â€" and dating features â€" at F8

  • 5 cars drawing crowds at the New York Auto Show

  • Trump announces new tariffs on China

  • 3 states open investigations into Cambridge Analytica, Facebook

Stock Watchlist

New Fire TV App

Source: Google News | Berita 24 English

Next
« Prev Post
Previous
Next Post »