"WHO OWNS HUAWEI? HUAWEI PAYS OUT HUGE DIVIDENDS TO EMPLOYEES! Thinking Out Loud"
In this episode of his "Thinking Out Loud" series, Double D discusses news that telecom giant #Huawei has paid out $9.6 billion in dividends to current and former employees.
Double D uses the Huawei pay out to ask the controversial question "Who owns Huawei?" The company's employees? Founder Ren Zhengfei? or the Communist Party of China (CPC)?
Jumping in to the video, Double D dissects a thesis paper from Toshio Goto, a research professor at the Japan University of Economics, which seeks to discredit claims that Huawei is de-facto owned by the Chinese state. Citing the paper, Double D lays out Huawei's ESOP/CO-OP structure, while explaining the "Company Law of the People's Republic of #China" which has necessitated the curious relationship between Huawei's employee ownership and the company's trade union.
He goes on to outline the company's system of employee elections, trade union based "phantom stocks", and how representatives from the Employee Commission elect the Board of Representatives and fill vacancies in administrative roles.
Switching gears, Double D dives in to the smear campaign against Huawei, telling the story of Christopher Balding, an expat and self-proclaimed libertarian, who formerly taught at a Chinese university and who claims he was fired from his position due to a state-mandated censorship campaign.
Double D shows how talking heads like Balding were one of the spearheads in the campaign against Huawei which lead to the US sanctions against the company.
He goes on to show how the campaign against Huawei is only one facet in the greater propaganda war against China, citing Balding's reactionary tweets, his regular anti-China contributions to Bloomberg, and questioning whether Balding is simply a zealous libertarian, or perhaps a state department stooge.
Rounding off the video, Double D examines the role cooperatives like Huawei play in the Dengist development of Market #Socialism; touching on China's massive network of State Owned Enterprises, and showing admiration for the millions of CPC cadres who went out into the Chinese countryside to aid in poverty alleviation efforts.
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