This has flown under the radar.
Blackrock is the largest asset manager in the world. Some of you may remember that there was a debate on this in 2020, but Fink among others were saying, and I'm paraphrasing, "we will enter the Chinese market and undermine their financial system". They didn't put it like that, but that was their genteel argument. But clearly that plan failed so now even those former boosters of engagement with China is getting cold feet.
I think this is a recurring theme among American oligarchs. They underestimate China. They think they can infiltrate it the way they did to Eastern Europe or other areas of the world. But they cannot.
Blackrock is the largest asset manager in the world. Some of you may remember that there was a debate on this in 2020, but Fink among others were saying, and I'm paraphrasing, "we will enter the Chinese market and undermine their financial system". They didn't put it like that, but that was their genteel argument. But clearly that plan failed so now even those former boosters of engagement with China is getting cold feet.
I think this is a recurring theme among American oligarchs. They underestimate China. They think they can infiltrate it the way they did to Eastern Europe or other areas of the world. But they cannot.
