Larry Fink is the boss of BlackRock.
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A consumer advocacy group this week blasted the world's largest money manager for taking their money and betting on China, and called on some state governors to look into the risks associated with investing in China.
Consumers' Research sent a letter to the governors of the states that have the most public pension funds invested with BlackRock. The group said that it was concerned about the CEO's ties to China's Communist leadership, and that he was putting American security at risk by funneling billions of US capital in China.
Consumers' Research wrote to the governors of New York and other states that BlackRock's gusto for Chinese markets flies in the face of concerns about China's authoritarian model of government and its ambitions to replace the U.S. as the pre-eminent world power.
The US-China Economic Security Review Commission recently recommended that the US take more steps to curtail its economic ties to China, according to the group.
"BlackRock has maintained a bullish approach to investing in Chinese firms, supporting their economy, and helping fuel the rise of their military, which barely a month ago tested a hypersonic missile," said Consumers' Research, which was established in 1929.
The group said that US investors could be involved in human rights abuses if they invested in Chinese companies.
The letter was sent to the governors of Washington, Nevada, Nebraska, South Carolina, Oklahoma, Pennsylvania, Montana, and West Virginia.
Business Insider has an original article.
