Consumers’ Research Urges Ten Governors to Divest State Pension Funds from China-Investing BlackRock
A consumer group is urging ten governors that their state pension plans are putting national security and their financial soundness at risk by trusting funds to BlackRock, the world’s largest money manager.
Consumers’ Research, an educational nonprofit dedicated to consumer information, has been critical of BlackRock in the past because of the firm’s ties to the Chinese Communist Party (CCP). The letters are addressed to the governors of 10 states–Washington, Florida, New York, Nevada, Nebraska, South Carolina, Oklahoma, Pennsylvania, Montana, and West Virginia — whose public pensions are heavily invested with BlackRock.
“BlackRock’s unabashed gusto for Chinese markets flies in the face of concerns about China’s ascendant standing in the world, its authoritarian model of government, and its ambitions to supplant the U.S. as the pre-eminent world power,” the letter
stated.
The group also sent a
Consumer Warning to “raise awareness among American consumers that BlackRock is taking their money and betting on China.”
GOP Group Urges Ten Govs to Divest State Pension Funds from BlackRock