A new ad targeting investment giant BlackRock’s ties to China was released Thursday by Consumers’ Research, a non-partisan, consumer-oriented advocacy group.
“No amount of woke posturing can hide what BlackRock is really up to. The idea that an American company is taking billions of dollars and using it to bet on China’s success is extremely concerning,” Executive Director of Consumers’ Research Will Hild said in a statement.
The 30-second television commercial kicks off a multi-million dollar program aimed at informing BlackRock clients and customers as to the extent and nature of the financial investments and connections to the Chinese Communist Party.
This first spot highlights BlackRock’s investments of U.S. pension dollars into China’s economy. The commercial makes the argument that the company, run by co-founder and billionaire CEO Larry Fink, is “propping up its communist leaders and funding companies the Chinese government uses to extend its control both at home and abroad.”
“We cannot allow this to continue,” Hild said. “Funneling Americans’ hard-earned retirement savings to China is unsafe from both a national security and financial perspective.”
Consumers’ Research said the ad, dubbed “Betting on China,” is set to run on cable tv news and business networks, with a concentration in the media markets in New York City and Washington, D.C.
The group said it is also running a billboard campaign in New York City along with a “targeted digital component.”
Hild said Consumers’ Research hopes that by exposing BlackRock’s “shady dealings” in China, that companies “won’t get away with taking advantage of hard-working Americans.”
“Any company trying to use woke politics to mask their misdeeds should see this campaign and know they could be next,” he concluded.
BlackRock was founded in 1988 by Fink, along with Susan Wagner, Robert Kapito, Barbara Novick, and four other partners. It is the world’s largest asset manager of its kind. The company reports as of October 1, its assets under management are valued at $9.46 trillion.
In addition to the ad campaign, Consumers’ Research launched a companion site, blackrockloveschina.com, that features a number of news, analysis, and opinion articles discussing specific aspects of the financial behemoth’s China-friendly business arrangements.
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Christina Botteri is the Executive Editor and occasional contributor to The Tennessee Star and The Star News Network.
Image “BlackRock ad” by Consumers’ Research.