BlackRock CEO Larry Fink has sounded the alarm on the spread of protectionist policies worldwide, warning that they could hinder global trade and weaken the economy. Fink stated in his annual chairman’s letter to investors that countries now have “twin, inverted economies,” with wealth concentrated among a few and hardship affecting many more.
The US is leading this trend, with President Donald Trump’s planned tariffs on all countries and existing measures on aluminum, steel, and autos causing concerns among markets. Fink believes the economy will experience a slowdown or even a recession, but notes that history has shown it can recover in the long run.
Fink highlights areas such as infrastructure and private credit as the fastest-growing sectors in private markets, with BlackRock making significant acquisitions last year to expand its presence in these areas. He also points out that governments are turning to private investors for infrastructure funding, while businesses will increasingly rely on market-based financing instead of traditional bank loans.
Fink’s warning comes ahead of Trump’s planned tariff measures and highlights the growing unease among investors about the global economy’s trajectory.
Source: https://www.cnbc.com/2025/03/31/blackrock-ceo-larry-fink-says-protectionism-has-returned-with-force-.html