Investment in Chinese Companies Explodes as an Issue; BlackRock on the Spot

Donald Trump/PHOTO: Gage Skidmore via Creative Commons

President Trump said this morning in a Fox Business interview with Maria Bartiromo that he is “looking at” the question of Chinese companies listed on American exchanges. His comment came a day after National Legal and Policy Center asked the CEO of BlackRock, the world’s largest asset manager, to divest its customers’ holdings in 137 Chinese companies listed on American stock exchanges.

Earlier this week, agencies of the United States government took a similar step. The Federal Retirement Thrift Investment Board, which manages retirement savings for government employees and military, announced that it would freeze its plan to invest in Chinese stocks this year. The decision came at the urging of officials in the Trump administration and from members of Congress, who do not want to see the communist nation rewarded with American investments following its mishandling and cover-up of the release … Read More ➡

Larry Fink Asked to Divest BlackRock From Chinese Companies in Response to Coronavirus, Human Rights Abuses

In a letter to BlackRock Chairman and CEO Larry Fink, the National Legal and Policy Center (NLPC) today asked the firm to divest its customer’s money from the 137 Chinese companies currently listed on American stock exchanges.

BlackRock recently divested itself of certain companies that produce thermal coal in response to demands by anti-fossil fuel activists. In the letter, NLPC Chairman Peter Flaherty cites this “precedent” and argues that Chinese companies “that manufacture equipment for Xi’s surveillance state or that are dominated by the People’s Liberation Army raise even bigger ethical questions.” Here is the full text of the letter:

Because BlackRock is the world’s largest asset manager and you have championed the principle of divestment as a moral necessity, we ask that you divest your managed funds from the 137 Chinese companies listed on the three American exchanges.

All are under the influence and ultimate control of the Communist … Read More ➡