Romney rips Obama on China despite investments

[Playinghardball]

WASHINGTON — Mitt Romney sharpened his criticism of President Obama’s handling of China’s trade practices this week, claiming the administration was dawdling as the global power gained strength by stealing American ingenuity and artificially lowering its currency.

But the Republican presidential nominee — both during his business career and in some recent financial investments made on his behalf — has invested in Chinese manufacturing companies that use some of those same practices, according to Romney’s financial forms statements and a review of shareholder disclosure statements.

The issue highlights the tightrope Romney has to walk whenever he criticizes a practice of the Obama administration that may overlap with his own financial holdings and past business dealings.

When Romney was in charge of Bain Capital, for example, the firm invested millions in a company that manufactured household appliances using cheaper labor in Dongguan, China.

Romney also has between $500,000 and $1 million invested in a Bain Capital fund that has been used to purchase shares of GOME, a Chinese electronics company, according to the financial disclosure form Romney filed in June. That company — in which Bain has been one of the largest outside shareholders — is being sued by Microsoft Corp. for selling computers with pirated versions of its Windows and Office software.

http://www.bostonglobe.com/news/politics/2012/09/14/mitt-romney-faults-president-obama-for-jobs-lost-china-but-gop-candidate-investments-include-chinese-manufacturer/EbgpCQi1UscTtiBTs6eMSK/story.html