
Is China Buying BlackRock? - born_a_skeptic
https://www.realclearpolitics.com/articles/2020/05/13/is_china_buying_blackrock_143185.html
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mullingitover
My wild guess: this author has a huge axe to grind with BlackRock, because he
wrote a climate change denialist book. BlackRock has not read it and joined
him in climate change denialism. He published a long-winded article earlier
this month complaining about BlackRock's climate change stance[1].

I think the general mistake he's making is to believe that BR is taking their
climate change stance for frivolous, partisan, or PR reasons and not because
they've taken a hard look at the facts and listened to science.

[1] [https://thehill.com/opinion/energy-
environment/495673-blackr...](https://thehill.com/opinion/energy-
environment/495673-blackrocks-choice-investment-fiduciary-or-political-
activist)

~~~
born_a_skeptic
Fair point and something I didn't think about. However, your comment doesn't
address the point of the article which is that China is using it's influence
to skirt U.S. Accounting Rules.

[https://www.wsj.com/articles/trump-may-push-for-chinese-
comp...](https://www.wsj.com/articles/trump-may-push-for-chinese-companies-to-
follow-u-s-accounting-rules-for-stock-
listings-11589459803?mod=politics_lead_pos5)

~~~
mullingitover
Well, the headline itself is trying to imply that China is trying to _buy_ BR,
which is totally unsupported by the article. The article's central thesis,
however, seems to be this:

> And while marketing Chinese investments that lack the basic auditing
> safeguards of U.S. companies, BlackRock is threatening to vote against
> boards that do not apply burdensome environmental reporting standards that
> have no statutory or regulatory standing — this, amid the deepest economic
> crisis since the Great Depression. BlackRock’s hypocrisy speaks for itself:
> punishing American companies that decline to apply entirely voluntary
> standards while being mute about Chinese companies’ lack of audit oversight
> and enforcement. There could hardly be a more blatant case of double
> standards.

BR doesn't have any direct power over China's accounting rules, and I'm sure
they'd love it if China's businesses had orthodox accounting standards.

~~~
born_a_skeptic
[https://www.zerohedge.com/markets/stocks-yuan-tick-lower-
sen...](https://www.zerohedge.com/markets/stocks-yuan-tick-lower-senate-
passes-bill-could-force-de-listing-chinese-companies)

