Mitt Romney has threatened to declare China a currency manipulator and, in a February Wall Street Journal oped on China, stated, “A nation that represses its own people cannot ultimately be a trusted partner in an international system based on economic and political freedom.” But while his campaign has had no shortage of tough talk towards China, Romney’s history at Bain Capital and his ongoing investments in its funds suggest the former Massachusetts Governor has looked favorably on companies that benefit from China’s low labor costs and controlled currency.

Even more strikingly, Reuters’ Rachelle Younglai reports today: “As chairman of the 2002 Winter Olympics, he also said Beijing should not be punished for human rights abuses.” According to Younglai, Romney was quoted in the Chicago Tribune saying:

They have practices, as reported in the media, that violate my sense of human rights, but we should not build walls even if we vehemently disagree with many of their practices. Building bridges increases the possibility for spreading the ideas of civil societies.

Romney’s inconsistent positions on China have already been cited by fellow Republicans and Washington policy analysts as a casualty of campaign season rhetoric. Last February, Romney supporter Jon Huntsman called Romney’s China policy “wrongheaded,” and dismissed his bluster on China as “typical campaign rhetoric.”

That rhetoric also stands at odds with Romney’s business record. His history at Bain Capital, the private equity firm he founded in 1984 and ran through 1999, may pose some difficult questions for a candidate who now claims he would declare China a currency manipulator if elected president. His presidential campaign promotes how three of the companies that Bain invested in during this time — Staples, Sports Authority and Dominos Pizza — created more than 100,000 jobs combined. But when Reuters conducted an examination of products at Staples and Sports Authority stores, they found that Chinese manufactured products formed the backbone of the companies’ business. 40 percent of Staples products in the sample and two-thirds of Sports Authority products were manufactured in China. Dominos has, since Romney left Bain, announced plans to franchise their restaurant in China.

Bain’s heavy investments in companies that outsource manufacturing to China means that Romney, and the company he helped found, directly benefited from Beijing’s undervaluation of its currency and inexpensive labor.

While talking tough on China, Romney toed a very different line while CEO of Bain and chairman of the 2002 Winter Olympics. Indeed, Bain’s investments in China and Romney’s ongoing investments — including, via a Bain fund, in a controversial Chinese company which provides surveillance tools to the Chinese government — underscores the disconnect between Romney’s business career and positions taken in his campaign.

Former Utah governor and GOP presidential candidate Jon Huntsman again criticized Mitt Romney’s harsh rhetoric toward China last night on CNN, calling it “typical” during a campaign.

Romney released an ad yesterday saying that he would get tough on China “on day one” of his presidency should he be elected. “President Romney stands up to China on trade and demands they play by the rules,” the ad says.

During an interview last night with CNN’s Erin Burnett, Huntsman — who has endorsed Romney for president — criticized the former Massachusetts governor and suggested he would pull back if elected:

HUNTSMAN: I think — this is a — this is a typical trajectory where during a campaign season you’re going to talk about China in ways that you’re hearing today. We’ve seen that election cycles gone by. They you get in office and I think Mitt Romney has the prospects of doing that which his most important for the U.S.-China relationship. Strengthening our own domestic economy and giving life and confidence to our creative class so we can get back on our feet.

If you want a strong U.S.-China relationship it starts right here at home and it starts with a stronger economy.

Watch the clip:

Huntsman was less diplomatic in his criticism of Romney on China last February, referring to his China policy as “wrongheaded.”

But Huntsman isn’t the only Romney-backer to differ with the presumptive GOP presidential nominee on China. Earlier this month, right-wing foreign policy don Bill Kristol called Romney’s attacks on the Obama administration’s handling of an escalating situation with a Chinese dissident “foolish.”

Even Romney’s own foreign policy advisers have praised President Obama on China. “I think he has a good policy in Asia, particularly in dealing with China,” neoconservative Brookings scholar Robert Kagan said, adding, “I think he’s strengthened our position in Asia with our allies.”

The once shoe-in favorite for the GOP presidential nomination Mitt Romney has been taking a beating lately — from his own supporters and advisers. Much of the criticism centers on Romney’s policies in various parts of Asia. Just this week, Romney supporter Sen. John McCain (R-AZ) parted ways with his candidate of choice on whether to enter into talks with the Taliban, with McCain supporting the Obama administration’s position. But a much more significant gulf may be opening up between Romney and his camp on China, particularly about his strident criticisms of Obama’s “pivot.”

Last week, Romney wrote a Wall Street Journal opinion piece blasting Obama’s Asia policy, particularly on China (albeit while misrepresenting said Obama policy). That afternoon on MSNBC, former Utah governor Jon Huntsman, who endorsed Romney after dropping his own presidential bid, said Romney’s China policies were “wrongheaded” and that he “would disagree with what some of what Governor Romney said.”

Now, a top Romney foreign policy adviser — not merely a supporter — has come out and praised Obama’s Asia policy, particularly his work on China. Appearing on the Colbert Report to promote his book, neoconservative Brookings scholar Robert Kagan, an Iraq hawk who advises the Romney campaign, said Obama “has a good policy in Asia, particularly in dealing with China”:

COLBERT: How can you advise Romney and like anything the President does?

KAGAN: I think that when the president does the right thing, it doesn’t matter what party you’re in, you should be supportive.

COLBERT: Killing bin laden doesn’t count. Killing Awlaki doesn’t count. Killing Qaddafi doesn’t count. Supporting the Arab Spring doesn’t count. So what else has he done?

KAGAN: Well, I think he’s done some things wrong. I think he has a good policy in Asia, particularly in dealing with China. I think he’s strengthened our position in Asia with our allies. On some issues I think he’s been a lot weaker.

Watch the video, starting at the four-minute mark:

The Colbert Report	Mon – Thurs 11:30pm / 10:30c
Robert Kagan
www.colbertnation.com
Colbert Report Full Episodes Political Humor & Satire Blog Video Archive

Kagan’s assessment that Obama has “strengthened our position in Asia with our allies” flies in the face of what Romney said in his Wall Street Journal piece. The GOP candidate wrote:

[Obama] has only encouraged Chinese assertiveness and made our allies question our staying power in East Asia… The supposed pivot has been oversold and carries with it an unintended consequence: It has left our allies with the worrying impression that we left the region and might do so again.

But maybe no one should be surprised that Kagan is a fan of some Obama policies. After all, the feeling seems to be mutual. Last month, Foreign Policy’s Josh Rogin and the Washington Post’s Ezra Klein wrote that Obama spoke effusively about Kagan’s essay in the New Republic (also here) about “the myth of American decline.”