Xi’s Common Prosperity Will Cost Investors
- Date: 15-Sep-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Xi’s Common Prosperity Will Cost Investors
A battle of investment titans has broken out between George Soros, BlackRock’s Larry Fink and Blackstone’s Steven Schwarzman. Soros stated that investments in China were not only going to be a money-losing proposition but were a “threat to U.S. national security.” The Financial Times on September 12 had the headline, “Fears over no rule of law as investors clash on outlook for China trading.” Meanwhile, the credit world is holding its collective breath as China’s largest property developer, Evergrande, inches closer to default on its $89 billion debt…much of it in dollar-dominated bonds. Some analysts think the repercussions could be global.
The motivating force behind all this drama is China’s strongman Xi Jinping and where he is taking the economy and his nation.
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