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Flashmag ! Issue 156 January 2025
Policy alignment : The Biden administration ’ s focus on clean energy and infrastructure was in line with BlackRock ’ s investment strategies , which were geared towards renewable energies . Impact on developing countries BlackRock ’ s policies do not stop at the borders of developed countries . In developing countries , the company ’ s strategies often exacerbate inequality and exploitation : Land grabbing : thanks to its investments in agribusiness , BlackRock has been associated with land acquisitions in Africa and South America that have led to the displacement of indigenous communities . Debt crises : BlackRock ’ s role as a creditor to countries such as Argentina and Zambia has drawn criticism for demanding austerity measures that exacerbate poverty while guaranteeing bondholders ’ profits .
Similarly , in the corridors of power , where elected officials ostensibly shape the future of nations , management consulting firms like McKinsey & Company quietly wield immense influence . Often operating behind closed doors , McKinsey and similar firms act as architects of policy , advising governments and corporations on decisions that affect millions of lives . Their expertise is sought under the guise of neutrality and efficiency , but their recommendations are often aligned with the interests of the global elite , reflecting the priorities of profitability and market dominance at the expense of social equity . McKinsey ’ s fingerprints can be found in policies ranging from public health care to energy privatization . In France , revelations of McKinsey ’ s deep involvement in Emmanuel Macron ’ s administration have sparked widespread criticism , as the firm is said to have played a key role in shaping policy while benefiting from tax breaks .
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