The investigative journalist and author of Red-Handed: How American Elites Get Rich Helping China Win told The Star News Network the titans of capitalism on Wall Street are now the partners of the Chinese Communist Party.
“What China wants from Wall Street is access to Western capital with no questions asked, and unfortunately the biggest fans on Wall Street are prepared to give it to them,” said Peter Schweizer, who is the president and founder of the Government Accountability Institute and the host of The Drill Down podcast.
“When the Trump administration pushed for tariffs and restrictions on Chinese economic activity in the United States, one of the first institutions to stand up and protest in the White House were the big firms on Wall Street,” Schweizer said.
The author said one of the Chinese Communist Party’s biggest supporters on Wall Street is the investment firm BlackRock and its CEO, Larry Fink.
“He’s basically running a fund that manages money that’s the equivalent of half the entire United States economy — so he has enormous pull,” he said.
The investigative reporter said Fink is not shy about his support for the Chinese government, Schweizer said.
“He has also praised the regime. He said, ‘Yes, there may be some people who are being repressed, you know, 10 percent of the population. The fact is that most people are better off economically, so it’s OK,’” he said.
“I can’t imagine if he applied that calculus to the United States,” he said.
Schweizer said BlackRock invests in companies that are aligned with its environmental and left-wing agenda.
However, in China, BlackRock invests in coal projects and firearms manufacturers – companies making weapons for the People’s Liberation Army, he said.
“His firm invests in companies that enhance the operation of the Chinese state, that enhance the capabilities of the Chinese military.”
Watch the segment:
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Neil W. McCabe is the national political editor of The Star News Network. Send him news tips: [email protected]. Follow him on Twitter: @neilwmccabe2.
