BlackRock's Larry Fink Says Ukraine War Marks End of Globalization

[sanman]

Hmmm, the head of the biggest capital management company has just said, THE RULES HAVE CHANGED! GET READY FOR NEW MARCHING ORDERS!

Larry Fink says Ukraine war marks end of globalization

BlackRock's annual letter also says the war could accelerate the global shift to green energy and digital currencies

financialpost.com

Larry Fink Says Ukraine War Marks End of Globalization

“The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades,” Fink wrote in his annual chairman’s letter to shareholders of BlackRock, which oversees US$10 trillion as the world’s largest asset manager.

While the immediate result has been Russia’s total isolation from the capital markets, Fink predicted “companies and governments will also be looking more broadly at their dependencies on other nations. This may lead companies to onshore or nearshore more of their operations resulting in a faster pull back from some countries.”

“A large-scale reorientation of supply chains will inherently be inflationary,” Fink wrote, in a wide-ranging 10-page letter that also addressed the invasion’s effect on the energy transition and cryptocurrencies, and updated investors on BlackRock’s business lines and the reopening of its main offices.

Gee, Donald Trump's idea for shifting supply chains suddenly doesn't seem so regressive now, all of sudden. Now suddenly, the Big Capital titans who all previous spat on Trump are now saying the same things he did.

Hmmm.... surprise, surprise...

 

[Greenbeard]

Gee, Donald Trump's idea for shifting supply chains suddenly doesn't seem so regressive now, all of sudden.

Biden's idea.

Executive Order on America's Supply Chains | The White House

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. The United States needs resilient, diverse, and secure supply chains to ensure our economic prosperity and national security...

www.whitehouse.gov