Veteran investor Mark Mobius said BlackRock’s Larry Fink was wrong to predict the ‘end of globalisation’ after Ukraine was invaded.
Mobius, one of the world’s most high-profile investors, said firms will still rely on goods and products from overseas, including China, adding: ‘I don’t quite understand Larry’s thinking.’
Investors have become nervous that US sanctions could spread to China if it sides with Vladimir Putin. Governments are also planning to increase the security of crucial supplies, particularly energy.
Claim: Mark Mobius said firms will still rely on goods and products from overseas, including China
But Mobius said even if countries try to become self-reliant after the pandemic and the war in Ukraine, they will still depend on materials and expertise from abroad.
He said: ‘There’s been lots about supply chains being disrupted, but the reality is things are being shipped around the world on a regular basis and that’s continuing.
‘Companies can try to do things themselves if they can get resources nearby. But, by and large, companies realise they have to co-operate with other countries for the supply of raw materials, components, technology.’
Mobius, who has spent more than four decades investing in emerging markets, added: ‘There’s no question – you cannot ignore China.’
Fink, who leads the world’s largest fund group, with assets worth £10trillion, said last week: ‘The invasion of Ukraine has put an end to the globalisation we have experienced over the last three decades.’
