According to George Soros, the renowned billionaire investor, BlackRock’s decision to push further into China through investment funds for consumers there, plus a call for foreign investors to triple their money in the country, is a “tragic mistake”.
Many international onlookers agree. They argue that one of President Xi’s most egregious acts recently was his government’s abrupt pulling of the flotation of Ant Group, the financial services business controlled by Jack Ma, in what would have been the world’s largest intial public offering last November. The move, which shocked international investors that had committed to buy about $34 billion of shares, was a highly political act that came after years of tensions between Xi and Ma. They came to a head when Ma made
