Schwarzman Says Hong Kong Makes U.S.-China Deal More Likely

(Bloomberg) -- Steve Schwarzman, chief executive officer of Blackstone Group Inc., said the Hong Kong protests increase the chances of a trade deal between the U.S. and China.

“It has made it more likely because China is facing a lot of significant issues,” Schwarzman said at the Washington Post CEO series on Tuesday, pointing to relations between Hong Kong and Taiwan as an example.

Schwarzman said the internal politics in China complicates trade negotiations with the U.S. There are reformers who want to make adjustments, but then there are hardliners who don’t want to change, he said.

“What you are seeing is China showing up with slightly different hats at different points in a two and a half year period,” he said.

Schwarzman travels to China frequently since he started a school there.

The Blackstone co-founder has at times functioned as an intermediary between the U.S. and Chinese governments. Last year he traveled to China eight times on behalf of the Trump administration.

Schwarzman is promoting his new book, “What It Takes: Lessons in the Pursuit of Excellence”.

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