Biden 'Never Nationalized Companies': Wall Street Journal Drags Trump for Turning DC Into 'Chinatown'

[BumRushDaShow]

Source: MEDIAite

Aug 25th, 2025, 8:46 am


The Wall Street Journal dragged President Donald Trump over his economic agenda in a new editorial accusing him of turning Washington, D.C., into “Chinatown.”

“Not long ago it would have been hard to imagine a Republican President demanding government ownership in a private company, but here we are. And now the Trump Administration is toying with a tax on patents too—meaning, a tax on innovation,” began the Journal.

After summarizing the events that led to the federal government taking a 10% stake in Intel, the influential, center-right newspaper predicted that state involvement in the company would hamper Intel’s ability to compete.

“The Administration says the deal won’t include a seat on Intel’s board or ‘governance or information rights,’ and it will mostly vote its shares with Intel’s board. But government support will ease the imperative for Intel to become more competitive. That’s one reason China’s partially state-owned Semiconductor Manufacturing International Corporation has struggled. In the name of competing with China, the U.S. is imitating its model of state-run business. Washington is becoming Chinatown,” it argued. “Mr. Trump accused Kamala Harris of being a socialist, but the Biden Administration never nationalized companies.”

Read more: https://www.mediaite.com/media/news/biden-never-nationalized-companies-wall-street-journal-drags-trump-for-turning-dc-into-chinatown/

[IronLionZion]

1. The Chinatown comment makes no sense

since Chinatowns around the world are made up of immigrants from China and has more to do with culture, restaurants, shops, parades, etc.

turning the USA into China would be a more accurate comment.

[BumRushDaShow]

3. It's a stupid (racist) euphemism courtesy of Murdoch

but it is supposedly referencing the thing the GOP LOVED to taunt against anyone not them - supporters of the "Chinese Communist Party".

And what 45 is doing is what the CCP does (the "socialistic" concept of state-ownership of what would be "private companies" in capitalistic countries.

[Wounded Bear]

5. Actually, it's a movie reference...

Last edited Tue Aug 26, 2025, 12:33 AM - Edit history (1)

Referring to the Nicholson movie where he uncovers corruption in the Los Angeles water commission.

[BumRushDaShow]

6. I think I've seen it (a long time ago)

But I don't think that analogy would apply here (although I suppose the quip might be a throwaway line).

[Ilikepurple]

8. I agree with bumrush. It doesn't make much sense as a reference in context.

It could be a throwaway quip, but if so, not a very good one unless you miss the good old euphemisms.

[Shipwack]

11. "Forget it, Jake. It's Chinatown." nt

[Username1234]

14. Y'all need to get out more

https://en.wikipedia.org/wiki/Chinatown_(1974_film)

[BumRushDaShow]

15. I mentioned above

that I had seen the movie a long time ago. But the analogy of using that throwaway line from the movie, the storyline of which had almost ZERO circumstances that could describe what is going on with this situation, means that some of "y'all" need to think a little less superficially and instead, go deeper.

[Torchlight]

2. GOP is tipping into the State Run Industries jar

As the shallow might say, this is "not a good look" for a party asserting the other guys are socialists and commies.

[Probatim]

7. Make America China Again!

[CloudWatcher]

4. They don't want to 'run' private firms ...

They just want a cut of the action. Preferably directly to their PACs and not to the federal budget.

[FakeNoose]

9. I agree - it has to be some kind of grift, or Chump wouldn't have any interest in it

[Cheezoholic]

10. They need to call it what it is, Fascism, at its core is this exactly n/t

[Wounded Bear]

13. I've always associated the term fascism with the merging of gov't and industry...nt

[mackdaddy]

12. A large Intel plant being built near Columbus OH is in trouble because of Chips act cuts.

The were due to be opened this year with 3000 new jobs, but Intel has run into problems. Funny they never explicitly say it was due to Trump trying to undo the Biden Chips Act program that was bringing chip manufacturing back to the US.

https://www.wosu.org/politics-government/2025-07-30/this-cant-be-more-disappointing-licking-county-officials-frustrated-with-intel-setbacks

[oasis]

16. Grifter in Chief, Donald J. Trump.

[Paladin]

17. Wow! Biden and Harris, compared favorably to trump?

Better watch out, Wall Street Journal---the rest of the trump-sucking mainstream media will be displeased with you...