Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, urged investors to have bets on “both horses in the race” amid rising trade tensions between the U.S. and China.
In a video posted online, Dalio argued that investors still have a historic opportunity to buy into China as it opens up its markets to foreign investments.
Dalio suggested that tension between the two was reminiscent of periods throughout history in which a world power at the head of a global order is challenged by a rising power, and likened China’s current trajectory to the rise of the Dutch, British and more recently American, periods of global economic dominance.
“Would you have not wanted to invest with the Dutch in the Dutch empire? Would you have not wanted to invest in the industrial revolution and the British empire? Would you not want to invest in the United States and the United States empire? I think it’s comparable,” Dalio said.
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