(ConservativeInsider.org) – Even the Left’s most radical investors acknowledge that funding Chinese enterprises is not in our nation’s best interest. In a bold statement, investor and philanthropist George Soros, who Americans know for his substantial support of the Democratic Party, called out an enormous asset management company for its new initiative investing in Chinese companies.
On Monday, September 6, Soros published an opinion piece with the Wall Street Journal, criticizing Blackrock, the world’s largest asset manager, for its newly released China-based mutual fund and investing program. This program came shortly after the investment firm encouraged its clients to triple their investments in Chinese assets.
Soros wrote that Blackrock is taking “the statements of Mr. Xi’s regime at face value,” rather than acknowledging the reality that the Chinese real estate market is struggling while Jinping is pushing a new “common prosperity” socialist agenda. The well-known philanthropist shared just what effect the Chinese president’s actions will likely have on the economy:
Xi Jinping’s crackdown on private enterprise has been a significant drag on the economy. International investors are in for a rude awakening. https://t.co/fAsGk4ZUCX
— George Soros (@georgesoros) September 4, 2021
While Blackrock publicly defended its new program, Soros made clear that China and the US “are engaged in a life and death conflict between two systems of governance: repressive and democratic.” With Blackrock’s latest move, it’s supporting the former over the latter. Hopefully, Soros’ immense influence will force Blackrock to reconsider its bolstering of China and its economy in favor of the United States’ strength.
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