Tom Donilon has promoted investments in China, opposed tariffs on regime The Biden administration’s pick to advise the State Department on “strategic competition” with Beijing chairs an investment think tank that urged Americans to triple their investments in China.
Secretary of State Antony Blinken on Friday selected BlackRock Investment Institute chairman and Obama administration national security adviser Tom Donilon to co-chair the Foreign Affairs Policy Board amid the State Department’s pivot to China.
Donilon’s work at BlackRock could pose a conflict of interest for the board, which provides “advice, feedback, and perspectives” to senior State Department officials on foreign policy matters. Under his leadership, the Investment Institute has urged investors to dramatically increase their stakes in Chinese companies. What’s more, BlackRock views “strategic competition” with China as bad for the company’s bottom line.
“Strategic competition between the U.S. and China and resulting tensions have also contributed to uncertainty in the geopolitical and regulatory landscapes,” reads BlackRock’s most recent annual report . The firm listed U.S.-Chinese competition as a factor that could hurt its revenue and profit. BlackRock opened a mutual fund in China in September, making it the first American firm approved to sell financial products there.
BlackRock’s Chinese entanglements have raised concerns that the company is undermining the United States. The company has come under fire for investing in sanctioned Chinese companies, including surveillance giant Hikvision. Even progressive megadonor George Soros called BlackRock’s investments in China a “tragic mistake” that would damage U.S. national security interests.
Donilon has sided with China in the debate over tariffs imposed during the Trump administration. He chided government officials in 2019 about the tariffs and inaccurately warned that they would cause a global recession.
“Future generations of Americans will judge today’s leaders harshly for squandering this moment,” Donilon wrote in an article touted by China Daily […]
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!