Article

2021-09-07 China-Japan-Koreas

Soros says BlackRock's China investments likely to lose money - WSJ

[YahooFinance] Billionaire investor George Soros said BlackRock Inc investing billions of dollars into China now is a "mistake" and will likely lose money for the asset manager's clients, according to an opinion piece in the Wall Street Journal.

"Pouring billions of dollars into China now is a tragic mistake," Soros wrote in the op-ed. "It is likely to lose money for BlackRock's clients and, more important, will damage the national security interests of the U.S. and other democracies."

Last month, BlackRock became the first foreign asset manager to operate a wholly owned mutual fund business in China, tapping the fast-growing $3.6 trillion retail fund market. This also comes after the government scrapped a foreign ownership cap in the industry on April 1, 2020.

Soros said BlackRock has drawn a distinction between the country's state-owned enterprises and privately owned companies that is far from reality, according to the opinion piece https://www.wsj.com/articles/blackrock-larry-fink-china-hkex-sse-authoritarianism-xi-jinping-term-limits-human-rights-ant-didi-global-national-security-11630938728.

Investors in China have been rattled by a flurry of regulatory crackdowns this year targeting sectors ranging from technology to private tutoring, which have wiped out close to $1 trillion in market value since February.

Posted by Skidmark 2021-09-07 07:29|| || Front Page|| [11126 views ] Top
File under: Commies

#1 It's like this. You've been shoveling money down a hole chasing a fad.
Old street saying: "We made money, the business made money. the investors lost money. Two out of three ain't bad."

Posted by ed in texas 2021-09-07 10:53|| 2021-09-07 10:53|| Front Page Top

#2 Just make Hunter a shareholder and the CCP will make it profitable

Posted by magpie 2021-09-07 11:26|| 2021-09-07 11:26|| Front Page Top

#3 It's interesting that Blackrock has been pushing China while declaring its undying support of green investments.

Posted by Matt 2021-09-07 12:27|| 2021-09-07 12:27|| Front Page Top

#4 /\ "Green investments" and related political Kabuki causes remain a viable virtue signaling strategy for many. 'Living the cover' requires long term commitment.

Posted by Besoeker 2021-09-07 12:31|| 2021-09-07 12:31|| Front Page Top

#5 Suggests Soros' Chinese investments are in competition with BlackRock's...

Posted by Glenmore 2021-09-07 16:51|| 2021-09-07 16:51|| Front Page Top

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