The ebb and flow of the corporate news cycle almost always distorts and distracts rather than informs or enlightens. So it was this week with the coverage of House Speaker Nancy Pelosi’s trip to Taiwan, which produced the intended effect of eliciting lazy puff pieces lauding her “three-decade career of challenging the Chinese government on human rights and other issues,” as the New York Times’ Carl Hulse dutifully put it.
But make no mistake: Pelosi did not go to Taiwan to stand up to China. She went for her own purposes, to shore up a narrative about her legacy as a tough American political leader who has always stood up to autocracies like communist China in defense of democracy. Remember that time she unfurled the banner in