Bloomberg to skip China forum with White House bid decision imminent
CGTN

Michael Bloomberg will not attend an economic conference in China next week being hosted by his media outfit, a company spokesperson told Reuters on Friday, adding to speculation the former New York City mayor could soon officially launch a bid for the U.S. presidency.

Axios reported on Saturday that Bloomberg's final decision on a presidential run is "days, not weeks" away, and the New York Times revealed he had agreed to fund a 100-million-U.S.-dollar online anti-Trump ad series.

Why has Bloomberg cancelled?

Billionaire media mogul Bloomberg was originally slated to appear at the New Economy Forum in Beijing, a gathering of world business leaders that he launched in 2018 to promote cooperation with China.

The forum is scheduled to kick off the same day that 10 of his potential Democratic presidential rivals will debate on a stage in Atlanta, Georgia.

Michael Bloomberg eats lunch with Little Rock Mayor Frank Scott, Jr. after adding his name to the Democratic primary ballot in Arkansas in Little Rock, Arkansas, November 12, 2019. /VCG Photo

Michael Bloomberg eats lunch with Little Rock Mayor Frank Scott, Jr. after adding his name to the Democratic primary ballot in Arkansas in Little Rock, Arkansas, November 12, 2019. /VCG Photo

A Bloomberg spokesperson told Buzzfeed that a high-profile delegation including former secretary of state Henry Kissinger and former treasury secretary Hank Paulson would still be attending the event in Beijing.

The decision to skip the forum comes as Bloomberg considers whether to make a late entry into the Democratic nominating contest. He has qualified to appear on the ballot in Alabama and Arkansas.

What's Bloomberg's pitch?

Bloomberg has been a vocal critic of Republican President Donald Trump and has publicly lobbied for an end to his trade war with China, saying it costs jobs, slows innovation and sours the relationship between the world's top two economies.

The 77-year-old and his aides have touted his business experience and his work around the globe, as well as his three terms as New York City mayor, as evidence that he is uniquely qualified to run against Trump.

Bernie Sanders, Joe Biden, Elizabeth Warren and Pete Buttigieg at the Democratic Presidential Debate in Westerville, Ohio, October 15, 2019. /VCG Photo

Bernie Sanders, Joe Biden, Elizabeth Warren and Pete Buttigieg at the Democratic Presidential Debate in Westerville, Ohio, October 15, 2019. /VCG Photo

While most of the top Democratic contenders, including frontrunners Joe Biden and Elizabeth Warren, have criticized Trump's tit-for-tat exchange of tariffs with China, they have not clarified how they would handle things differently if elected.

Bloomberg describes the New Economy Forum as "a community of global leaders engaging with the world's most significant changes and challenges."

The mogul is ranked by Forbes as the eighth richest American with an estimated worth of 53.4 billion U.S. dollars.

Is there a path to a President Bloomberg?

Bloomberg, who has long flirted with a presidential run, is believed to be concerned that none of the existing candidates in the Democratic field are strong enough to beat Trump in 2020.

There are serious doubts as to the viability of a Bloomberg candidacy among Democratic voters however, with new Reuters/Ipsos polling suggesting only around three percent of Democrats and independents would vote for him.

The result puts the mogul well behind Biden, Warren, Bernie Sanders, and Pete Buttigieg, and level with Kamala Harris.

Leapfrogging candidates who have been campaigning and fundraising for over a year would be a tough task, even with Bloomberg's financial resources, and as a former Republican mayor he could struggle to win over some key Democratic constituencies.

(With input from Reuters)