On August 30th, Blackrock the world’s largest asset manager launched a major initiative in China. In a letter to shareholders, Larry Fink wrote, “The Chinese market represents a significant opportunity to help meet the long-term goals of investors in China and internationally. ” Blackrock’s major new initiative will offer mutual funds and other investment products to Chinese consumers.
According to Soros, “Pouring billions of dollars into China now is a tragic mistake. It is likely to lose money for Blackrock’s clients and, more importantly, will damage the national security interests of the U.S. and other democracies.”
The U.S. and China are locked in an epic ideological struggle between two systems of governance: democratic and repressive. Money invested in China will prop up Xi’s despotic regime. In his op-ed piece in the Wall Street Journal, Soros was forced to take a stand. To state the obvious. Xi’s China has no rule of law. Human rights are non-existence. Property rights rest precariously on the whim of the Communist party. Hong Kong is the most visible example of the fragility of freedoms in China.
Why is George Soros the only high-profile fund manager highlighting the corporate bedazzlement of Xi and the Red Chinese with money and legitimacy?