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Ukraine war

BlackRock's Larry Fink says Ukraine war marks end of globalization

Boss of $10tn asset manager warns about inflation as companies reconfigure supply chains

BlackRock CEO Larry Fink takes part in the Yahoo Finance All Markets Summit in New York in February 2017.   © Reuters

NEW YORK (Financial Times) -- Russia's invasion of Ukraine will reshape the world economy and further drive up inflation by prompting companies to pull back from their global supply chains, BlackRock chief executive Larry Fink has warned.

"The Russian invasion of Ukraine has put an end to the globalisation we have experienced over the last three decades," Fink wrote in his annual letter to shareholders of BlackRock, which oversees $10tn as the world's largest asset manager.

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