George Soros ups the ante in war of words with BlackRock over China, exposing contrast of bets on world’s second-biggest market
- Soros, an early investor in Hainan Airlines, calls BlackRock’s expansion in China ‘tragic mistake,’ in an opinion piece in The Wall Street Journal
- Soros, the founder of Quantum Fund and the Open Society Foundation, has written two opinion pieces in the Journal since August 13
One of America’s earliest investors in China fired an opening salvo in a potential war of words with the biggest global asset manager this week, as two of Wall Street’s best-known investors spar over the investment potential of the world’s second-largest economy.
In the other corner is BlackRock’s chairman and CEO Larry Fink, who believes that the lack of exposure to China among global investment portfolios deprives investors from the nation’s growing middle class and rising income.
03:22
Crackdown on private tutoring leaves industry, students and parents drawing a blank
“Pouring billions of dollars into China now is a tragic mistake,” Soros wrote in the Journal on Monday, his second contribution to the newspaper’s Op-Ed pages on China since August 13. “It is likely to lose money for BlackRock’s clients and, more important, will damage the national security interests of the US and other democracies.”
