BlackRock Inc. has almost $10 trillion assets under management. It is one of the largest investment companies globally, and the firm has a cozy relationship with the Chinese Communist Party. The CCP develops bioweapons, covers up bad PR, violates human rights, enslaves the Uyghur Muslims in Xinjiang, and reeducates athletes who speak out against sexual assault.
In 2008, BlackRock opened an office in Beijing to grow its business in China. That sounded innocent enough back then. It is interested in Baidu, Pinduoduo, Xiaomi, and China National Offshore Oil Corporation.
Consumers’ Research wrote a Consumer Warning letter detailing BlackRock’s ties with China and recommending that states avoid investing with the company.
As a consumer protection agency, Consumers’ Research advised the governors of Florida, New York, South Carolina, Washington, Nevada, Nebraska, Oklahoma, Pennsylvania, Montana, and West Virginia not to maintain accounts with BlackRock. All these states do business with BlackRock and face considerable dangers and volatility.
Customers’ Research pointed out that BlackRock CEO Larry Fink has a long-standing relationship with the CCP. Fink advised China on their US trade balance.
BlackRock loves Chinese business, which likely means that they have inside information. But that exposes them to political swings and geopolitical threats. There are substantial worries about China’s autocratic capitalism model. It may collapse if businesses cannot rely on funding from a government subsidizing failure to expand its reach and control. Manipulation of the Yuan allows CCP agents to purchase foreign goods, property, assets, materials, and land cheaply.
The Belt and Road Initiative, known as One Belt One Road, is a global infrastructure and debt program designed to acquire transportation and waterways for the Chinese government. It will also benefit from creating a World Bank link network of debt-riddled nations accountable to the CCP.
Authoritarian governments and petty dictators like President Xi may supersede the US. Organizations and businesses dealing with the supply chain crisis now see the incredible danger presented by the CCP. If Fink thinks that advancing China’s serene ascent is sustainable, he is mistaken. CCP activity in the south China Sea and towards Taiwan is marked with hostile intent.
Growing BlackRock investments would hurt US public safety. States that invest with BlackRock and the CPP are complicit in the government’s cruelty and terror against its residents.
Funding Chinese companies will aid and abet the CCP’s data, observation, and knowledge gathering activities. Facilities are used to track and silence dissidents against the communist party line. It is like how Twitter, Facebook, and Google support the Democrat Party.
Do your due diligence. Avoid sending more cash to the Chinese government-run by the CCP that threatens US interests. Instead, invest in American businesses that employ Americans to build up the American economy. Is that too much to ask?