While he has been busy on the campaign trail, Mitt Romney has found a little time for a side venture, training Hu Jintao, President of the People’s Republic of China for the job of CEO at Bain Capital. Hu is expected to step down as President of the PRC early in 2013, the Year of the Snake.
Romney told reporters that Hu approached him earlier this year about business opportunities in America. Hu reportedly seeks a greater understanding of venture capitalism. “He wants to learn more about the American economic system so that he can apply some of those principles to businesses in the PRC,” said Romney.
In turn, Hu will offer lessons in authoritarian totalitarian leadership to business and government heads here in America. Romney said, “We’ve made some strides to improve in these areas, but President Hu will undoubtedly offer more insight from his experience, and will act as a lecturer and teacher to Congress as well as the CEO of this major corporation here in America.”
Bain Capital has reemerged in the headlines recently over closures of its Sensata Technologies plant in Freeport, Illinois. Bain made the American employees at Sensata train the Chinese workers who will soon take their jobs. Additionally, Bain erected a PRC flag prominently at the plant in Freeport. This transition was one of the first projects Hu worked on with Bain, and Romney said that it has not been without problems or controversy.
Romney laughed and told reporters, “We’ve had some misunderstandings. For example, with the Sensata closure, I told President Hu we needed to give thanks to the workers and families who were protesting the transition. But, he apparently heard ‘tanks’ so he shipped some military tanks over from China to attend the protests.”
Further complicating Romney’s relationship with Hu, is the Chinese President’s impeccable memory. Romney told reporters that Hu recalls what he says from one week to the next down to the inflection in his voice. “I have to say it’s unnerving, especially when I change my positions,” said Romney.