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this post was submitted on 19 Sep 2023
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Black Rock also unfortunately invests in China, so I caution against... I don't know what for once.
Blackrock invests primarily in the private sector, things like evergrande, the property speculation market, and the luxury brand sector, it's one of reasons why China isn't bailing out property companies like Evergrande, since BlackRock has deep investment in these speculator companies. The hope is that these companies will declare bankruptcy so that the Chinese government can nationalise them for greater public use, another fault I hope china corrects soon.
Why would them being nationalized be a fault?
I think what was meant is China allowing a foreign investment corp such as Blackrock to become involved in housing speculation in the first place.
I was meaning the speculator market companies which grew far too large during china's development, and had the attention of predatory western investment companies which wanted to strengthen these companies. A fault to china's goal to prosperity as these companies which were largely ignored, and allowed to fester into the tumors which blight china's economy, a fault which needs correction. Something which china's doing by nationalising them after they fail.
George Soros said it was a "tragic mistake" so you can rest easily now