The crisis in Ukraine will put a stop to globalization, according to Larry Fink, CEO of BlackRock, the world’s largest asset manager, as governments and corporations cut relations with Russia, while warning that a large-scale reorientation of supply chains will be inflationary. “The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades,” Fink wrote in a March 24 letter to shareholders, noting that the Russian offensive in Ukraine has prompted states to cut connections with Moscow financially and commercially. “They launched an’economic war’ against Russia,” Fink wrote, “united in their strong desire to help the Ukrainian people.” Russia has been sanctioned as a result of its “special military operation” in Ukraine. Russian banks and wealthy billionaires have been targeted, and Russian jets have been denied access to airspace, as well … Continue reading BlackRock CEO Claims Russian Invasion To Be The “End To Globalization” Despite His Own China Ties.