Posted on 03/24/2022 8:48:57 AM PDT by JonPreston
BlackRock CEO Larry Fink said that the Russian invasion of Ukraine “has put an end to the globalization we have experienced over the last three decades.”
The head of the world’s biggest asset manager sent a letter to shareholders on Thursday warning of dark days ahead for the world economy, signaling that inflation is of particular concern.
Fink predicted that the war will force countries to re-evaluate the extent to which their economies are interdependent on others. It could also spur economies to develop greater reliance on local manufacturing, according to Fink.
(Excerpt) Read more at nypost.com ...
Um.... the Pot calling the Pot black?
It looks like the Free Trade experiment pushed by both parties has finally crashed against the rocks. For Fink to acknowledge this is an indication of the hard times ahead.
Please, NO!
I thought BlackRock was all about the globalist. Wouldn’t this war help “The New world order”?
Fink has made his $billions and now he’s getting ahead of the storm.
Good to hear
Uhmmmm......nobody finds this dangerous that unelected hedge fund managers are shaping a governments public policies of our individual liberties?!!!
Other than the Ukraine/Nuclear War cheerleaders, I think most here will be happy, if this is actually true.
For there to be an end to the push for “globalization” as we’ve come to know it, “Save the Planet” (by any means necessary) has to go too.
Every cloud has a silver lining.
As of 2 September 2020, the Members of the Board of Trustees of the World Economic Forum are:
Klaus SCHWAB* Chairman of the Board of Trustees, World Economic Forum
Peter BRABECK-LETMATHE,* Vice-Chairman, Board of Trustees, World Economic Forum, Chairman Emeritus, Nestlé SA, Switzerland
H.M. Queen Rania AL ABDULLAH of the Hashemite Kingdom of Jordan
Mukesh AMBANI, Chairman and Managing Director, Reliance Industries, India
Marc BENIOFF, Chair and Chief Executive Officer, Salesforce, USA
Thomas BUBERL, Chief Executive Officer, AXA, France
Mark CARNEY, Finance Adviser on the 26th Conference of the Parties to the Prime Minister of the United Kingdom
Laurence FINK, Chairman and Chief Executive Officer, BlackRock, USA
Chrystia FREELAND, Deputy Prime Minister and Minister for Finance of Canada
Orit GADIESH,** Chairman, Bain & Company, USA
Kristalina GEORGIEVA, Managing Director, International Monetary Fund, Washington DC
Fabiola GIANOTTI, Director-General, European Organization for Nuclear Research (CERN), Geneva
Al GORE, Vice-President of the United States (1993-2001); Chairman and Co-Founder, Generation Investment Management LLP, USA
Herman GREF, Chairman of the Board and Chief Executive Officer, Sberbank, Russian Federation
Angel GURRÍA, Secretary-General, Organisation for Economic Co-operation and Development (OECD)
André S. HOFFMANN,* Non-Executive Vice-Chairman, Roche Holding Ltd., Switzerland
Paula INGABIRE, Minister of Information Communication Technology and Innovation of Rwanda
Christine LAGARDE, President, European Central Bank (ECB)
Jack MA, Alibaba Board of Directors, Alibaba Group, People's Republic of China
Yo-Yo MA, Cellist
Peter MAURER, President, International Committee of the Red Cross (ICRC), Switzerland
Luis MORENO,** President, Inter-American Development Bank, Washington DC
Patrice MOTSEPE, Founder and Executive Chairman, African Rainbow Minerals, South Africa
L. Rafael REIF, President, Massachusetts Institute of Technology (MIT), USA
David M. RUBENSTEIN, Co-Founder and Co-Executive Chairman, Carlyle Group, USA
Mark SCHNEIDER, Chief Executive Officer, Nestlé, Switzerland
Tharman SHANMUGARATNAM, Senior Minister of Singapore
Jim Hagemann SNABE,** Chairman, Supervisory Board, Siemens AG, Germany; Chairman, A.P. Møller-Maersk, Denmark
Feike SYBESMA,** Honorary Chairman, Royal DSM, Netherlands
Heizo TAKENAKA,** Minister of State for Economic and Fiscal Policy of Japan (2002-2006)
Min ZHU,* President, National Institute of Financial Research, People's Republic of China
*Member of the Governing Board
**Member of the Audit & Risk Committee
Maybe now that sob Fink will stop bidding up housing prices in some markets to the extent that young families can no longer afford them
Local manufacturing isn’t realistic for every country but the good actors of the world should stop trading with countries that are bad actors. Which means it’s all the more important to pull manufacturing out of China now. Russian oil financed their war machine. Chinese manufacturing finances theirs.
So they are going to go straight up Pro-China now? Better than the China-supporting global position they had been working from I guess.
These people love chaos. Always the chance for a financial killing.,
Suuuuuurrrrrrrrrrre it has.
Coming from the country’s biggest landlord.
That’s one good repercussion of this war.
I thought becoming less dependent on foreign countries and bringing our manufacturing back home was an obvious strategy long before Covid.
Covid and China shutting down and hoarding PPE, disrupting medical drug components, chips etc, should have seen every country in the world trying to become less dependent on China.
Russia dependency for energy and fertilizer and some metals is now driving home the same point.
How many nails do we need in the coffin of globalization before that monster dies?
For nearly three decades Larry Fink was the biggest globalist on the planet. Now, he sees the bill coming due and he is positioning himself on the populist side of the equation.
Only if they win.
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