BlackRock CEO Larry Fink recently declared that"BlackRock's job is to provide hope." He should have added,"to the Chinese Communist Party."
BlackRock's 2022 investor prospectus for its China multisector tech exchange-traded fund was released on Thursday. Tracking an"index composed of Chinese equities in technology and technology-related industries," the fund seeks American investors who will flow capital into the Chinese technology industry. And not entirely congruent with Fink's ESG commitments, the prospectus is riven with rhetorical efforts to avoid attracting China's in regards to Beijing's injustices.
A rising consensus of U.S. military and intelligence officers now indicates that China is likely to launch an attack on Taiwan in the 2023-2027 window. With President Joe Biden having pledged four times to order U.S. military action to defend Taiwan , I would suggest that a major near-term conflict between the U.S. and China is now more likely than not. And China's tech industry bears special attention in this regard.
TomRtweets I guess ESG does not apply to China companies.