A sign for BlackRock Inc. hangs above their building in New York on July 16, 2018. (Lucas Jackson/Reuters)

According to a story by The Epoch Times on December 4th, 2021, it talks about how  Consumers’ Research, the oldest U.S. consumer advocacy organisation,  recently sent a letter to 10 state governors warning them about the reliance of their states’ pension funds on BlackRock’s strong ties to China. BlackRock, under Chief Executive Larry Fink, is the first foreign-owned company to receive a license to operate in China’s $3.5 trillion mutual fund industry. This is a very unusual situation because as we know you cannot do business in China at this level without being friendly to the communist regime and turning a blind eye to all the human rights violations and forced labour camps.

Consumers’ Research Executive Director William Hild sent the letter to the governors of Washington, Florida, New York, Nevada, South Carolina, Oklahoma, Pennsylvania, Montana, Nebraska, and West Virginia—the 10 states with the most investments in BlackRock. Washington has the largest portfolio risk, with $13 billion of its state pension fund invested in BlackRock, the largest asset manager in the world. The letter, coming after the findings in the 2021 U.S.–China Economic and Security Review Commission Report to Congress, was sent to “raise awareness among American consumers that BlackRock is taking their money and betting on China,” according to Hild.

Larry Fink, who has a cosy relationship with the regime and has been labelled a “trusted partner” by the Chinese Communist Party (CCP), has been acting as one of their top foreign economic advisers since the early 2000s. In a March 2020 letter to shareholders, Fink said he continues “to firmly believe China will be one of the biggest opportunities for BlackRock over the long term, both for asset managers and investors,” the Wall Street Journal reported.

It is obvious that Fink has chosen China over America as far as business is concerned he tells his American shareholders what he wants them to know and does whatever he is told by the communist regime, this is obviously a disaster waiting to happen as it seems that the Chief Executive of the worlds largest asset management firm is far more bothered about profit than genocide. Also, he seems happy to do business with an authoritarian regime that is happy to harvest organs from political prisoners and to use forced labour in many factories and warehouses all over mainland China. 

For more information regarding this story please click the link: https://m.theepochtimes.com/consumers-research-warns-us-governors-about-blackrocks-retirement-fund-investments-in-china_4137108.html

Editor: Mr Cow / PR: Mini Cow

Edited by:【Himalaya London Club UK】