Climate Wokester BlackRock Selling Out Americans To China
Ironically, one of the wokest American corporations is also selling out Americans to none other than the Chinese Communist Party.
BlackRock and its CEO Larry Fink have been using the massive amount of investment funds at their disposal to praise and advocate for the interests of Beijing for several years now. [bold, links added]
BlackRock, which regularly pressures American companies to invest more in “climate change” priorities or promote “racial equity,” has a history of cozying up to America’s most powerful adversary on the global stage.
Just last week, the Biden State Department tapped former BlackRock chairman Tom Donilon for the administration’s Foreign Affairs Policy Board which will, among other things, manage the U.S.’s “strategic competition” with China.
While Donilon was chairman of the company, BlackRock massively increased its investment levels in Chinese companies.
BlackRock and Fink are on record encouraging their clients to invest more in Chinese equities.
“We stand by our strategic preference for Chinese assets,” the firm, which manages $10 trillion in assets, said in 2021, shortly after the Chinese Communist Party (CCP) issued a massive crackdown on businesses in the country.
A month earlier, BlackRock recommended investors “boost their exposure to the country by as much as three times.”
“China is underrepresented in global investors’ portfolios but also, in our view, in global benchmarks,” an investment strategist at BlackRock said.
REPORT: The Biden Admin has selected the Chairman of the @BlackRock Investment Institute, Tom Donilon, to lead the Foreign Affairs Policy Board, which will advise on “strategic competition” with China.
This is a MASSIVE conflict of interest.
— Will Hild (@WillHild) June 22, 2022
In a statement on “the role of Chinese assets in portfolios,” the company celebrated that, “The narrative around China has shifted away markedly, in our view, from concerns about the health of its financial system.”
“We believe investors, on average, are underinvested in Chinese assets – even below what we believe to be neutral levels suggested by current global benchmarks,” the corporation said.
In 2019, Fink made his priorities very clear. “In this world of anti-globalism…I’m still a globalist and I’m proud of it,” he said. He added that his goals for BlackRock were ambitiously globalist as well.
His goal for his investment firm was to “prove that every country, whether it’s Mexico or Italy or Japan or China or Australia or the U.S., that we are instituting our purpose in every place we operate.”
Fink has also heavily praised the Chinese government on multiple occasions.
Accepting an award at an event with the Chinese ambassador in 2018, Fink praised the Chinese Communist Party for supposedly lifting large swaths of the country out of poverty.
“His message: BlackRock, in particular, could help Chinese households build an investment safety net,” the Wall Street Journal wrote.
“I continue to firmly believe China will be one of the biggest opportunities for BlackRock over the long term, both for asset managers and investors,” Fink told shareholders in March 2020.
Fink seems to have an affinity for totalitarian governments in general. In a TV appearance, Fink once said that “markets don’t like uncertainty,” and how “markets like actually totalitarian governments.”
What Fink gets out of his cozy relationship with China is special treatment for BlackRock in the totalitarian Chinese market.
Far from a free market, the CCP-run Chinese economy would not generally admit a company like BlackRock into their country.
But Fink has now gotten the green light to start the first mutual fund in the country, something he would [not have accomplished] had he lived up to his high-minded moralizing and eschewed the Chinese market.
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