Nancy Pelosi Propped Up Chinese Olympics As Her Family Bagged Money

( According to Peter Schweizer’s new book Red-Handed: How American Elites Get Rich Helping China Win, Speaker of the House Nancy Pelosi dropped her hawkish position on China as soon as her family’s ties to Beijing started making her rich.

Schweizer reveals that while Pelosi was one of the most vocal anti-China members of Congress early on in her career, as her husband Paul’s business ties in China grew, Nancy’s human rights advocacy against Beijing diminished.

Paul Pelosi became a partner investor in Matthews International Capital Management which was a pioneer in investing in the Chinese market. In addition to that, Paul also invested in several other companies whose success was dependent on doing business with the Communist Chinese.

One such business Paul Pelosi invested in was a limousine service called Global Ambassador Concierge, a high-end business catering to the very wealthy world traveler. Global secured a deal with the 2008 Beijing Summer Games.

Before the 2008 Games, Pelosi was initially critical of China hosting the Olympics, largely due to China’s human rights record. But the year after Paul Pelosi bought shares in Global Ambassador Concierge, Pelosi reversed course and came out against boycotting the Beijing Olympics.

According to Red-Handed, two years later, Paul Pelosi held between $5 million and $25 million in a Matthews fund that specializes in Asian investment where he received a partnership income of between $100,000 and $1 million.

As she did in 2008, this past year, Pelosi objected to boycotting the 2022 Games, supporting only a “diplomatic boycott.” While she portrayed this as supporting US athletes, it is likely her objection to boycotting the games had more to do with supporting her own bank account.

So it shouldn’t come as a galloping shock that this time around, the Speaker of the House is urging US athletes participating in the 2022 Winter Games to refrain from criticizing the Communist Chinese government.

In a video released on Thursday, Pelosi warned athletes not to risk “incurring the anger” of the Chinese government “because they are ruthless.”