BlackRock Decoupling From China?

BlackRock may not be the infallible pillar we have all been told that it is—even they flinch.

According to sources, BlackRock is reportedly pulling back from China and will close its China Flexible Equity Fund on November 7, 2023.

The firm cites low investor interest and a high cost of doing business in the South Pacific nation as the primary reasons for closing the fund.

However, recent political pressures cannot be ignored. Immense pushback from both the American public and factions within Congress has cast a spotlight on BlackRock’s connection to China.

The Select Committee on the CCP recently reported that “BlackRock’s FXI ETF which invests in some of these large-cap Chinese companies is down 30%.”

“In addition to being morally reprehensible, some of these investments in China have just been terrible investments…@BlackRock’s FXI ETF which invests in some of these large cap Chinese companies is down 30%.” – Chairman @RepGallagher shares with @MorningsMaria pic.twitter.com/DpZcPMhxK5

— The Select Committee on the CCP (@committeeonccp) August 31, 2023

Crossroads with Joshua Phillipp had this to say: “BlackRock and Vanguard, once leading advocates for ESG (Environmental and Social Governance), are pulling back. Why? Shareholder demands and consumer disinterest are making it clear: the once-mighty ESG agenda is on its last legs.”

BlackRock and Vanguard, once leading advocates for ESG (Environmental and Social Governance), are pulling back. Why? Shareholder demands and consumer disinterest are making it clear: the once-mighty ESG agenda is on its last legs.

WATCH 👉 https://t.co/NX8lyrJmCG pic.twitter.com/5XUeu1tJMb

— Crossroads with Joshua Philipp (@crossroads_josh) August 29, 2023

Bein Crypto had more details:

This closure comes following increasing concern over US investments in Chinese companies.

In August, BlackRock and other firms braced for tighter oversight following a congressional probe into investments in Chinese firms judged national security threats.

Moreover, an executive order signed on August 9 imposed limits on US investments in certain Chinese technology industries.

One user explained: “To gain access to Chinese markets – Fink weaponizes $10,000,000,000,000 (ten trillion = $1 million x 10 million people) of our pension funds to push ESG (Environmental, Social & Governance) scores and CEI (Corp Equality Index) scores as a corporate social credit system.”

🟦 Our pensions being used to break our nations

To benefit China

Larry Fink – BlackRock CEO – WEF Board of Trustees

“Well, behaviors are going to have to change. And this is one thing we are asking companies . . . you have force behaviors. At BlackRock we are forcing… pic.twitter.com/PGqkR1QcBt

— Resist CBDC (@Resist_CBDC) September 4, 2023

Breitbart provided this quote from Rep. Gallagher:

I think everyone can agree…that American dollars should not be funding the Chinese Communist Party’s military buildup.

And make no mistake, they’re embarked on the largest sustained peacetime military buildup since World War II, potentially ever, depending on how you [define] it.

And we shouldn’t be investing our money in Chinese aircraft carriers, fighter jets, artillery shells, advanced nuclear technology.

But that’s what’s happening. We launched a bipartisan investigation into BlackRock and MSCI.