Taking on the Challenge
At the book-launch event on March 12, Shum talked about his mental journey in writing the book, how his wife suddenly contacted him when he published it, and why he chose Taipei to publish the Chinese edition.Shum said that the memoir was originally written for his son, and wasn’t meant to be published. “Because the mother is one of the most significant people in a boy’s life, I must be honest with him,” he said.
The couple rubbed shoulders for years with China’s powerful and wealthy elites, and were popular for their philanthropy. But when Shum’s Chinese billionaire wife, Duan Weihong, or Whitney Duan, disappeared in 2017 for her involvement in the Party’s political struggle, no one would dare to assist Shum in trying to locate his wife.
Memoir of an Insider
Desmond Shum was born in Shanghai, and moved to Hong Kong in 1978 with his parents. He has a bachelor’s degree in accounting and finance from the University of Wisconsin-Madison, and is a graduate of the joint-EMBA program of Northwestern University and the Hong Kong University of Science and Technology.The tightened Party control of private businesses caused the couple to break up, Shum said: He wanted to leave the environment where the Chinese Communist Party interfered with their business decisions, but his wife wanted to stay. They divorced, and he moved to England with their son.
Confronting the Iron Fist
When Shum’s book was first published in 2021, his ex-wife suddenly contacted him—after four years of silence. Her call to him was obviously an “instructed” action, he said, “imploring me not to publish.”Shum said he was thinking of hiring a bodyguard, but gave up the idea. If the Chinese Communist Party (CCP) wants you dead, he explained at the book launch, it is unlikely that anyone can help you.
He experienced many difficulties when attempting to publish the Chinese-language edition, he said.
According to Shum, the Chinese edition was supposed to be published last February, but the Taiwan-based publisher, Far East Group, withdrew because of political pressure from the CCP. Another Taiwan-based publisher, Business Today, then bravely stepped forward, he said.
Regarding the CCP’s threat to Taiwan and Taiwan-based businesses, Shum said that many people won’t wake up until they are “hit by the CCP’s iron fist.”
He stressed that “Taiwan is the only place in the Chinese-speaking world where books disapproved of by the CCP can be published. Taiwan’s cultural, artistic, economic, and geopolitical strengths have earned the right to speak in the world.”
Shum encourages the people of Taiwan to stand up against the CCP, and to be open to accepting more high-level finance from around the world. He said that Xi Jinping’s policies have exhausted the confidence of the Chinese market, and that he is pessimistic about China’s economy.
The world is going against Chinese investment, he said, and China’s riches are being funneled out of the country.
“Forget about trying to please the CCP. The CCP just wants to destroy Taiwan,” he said.