Larry Fink Says Ukraine Invasion "Accelerates" ESG and Digital Currencies Shift
Photo Credit: Blackrock Photo Sourced From: Blackrock
BlackRock CEO Larry Fink’s annual letter to shareholders has become heavily scrutinized as ones from Berkshire Hathaway chief Warren Buffett and JP Morgan chief Jamie Dimon. Fink is the boss of a $10 trillion asset manager, the world’s largest and oversees more money than the Fed, told shareholders Russia’s invasion of Ukraine would fundamentally reshape the world economy and drive up inflation as supply chains are reconfigured.
“The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades,” Fink wrote.
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.”
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