Emerging markets guru Mark Mobius has hit back at George Soros after the billionaire investor called a recent push into China by US asset manager BlackRock a “tragic mistake”.

Soros made the explosive claim in an opinion piece titled BlackRock’s China Blunder in the Wall Street Journal on 6 September. The 91-year-old wrote that the entry into China was “likely to lose money for BlackRock’s clients” and “damage the national security interest of the US and other democracies”.