Dalio Sees a ‘Risky Time’ Ahead in U.S.-China Trade Conflict

Ray Dalio, the billionaire founder of investment management firm Bridgewater Associates, said Wednesday that he viewed the U.S.-China conflict as more than a “trade war” and that increasing export controls would be a major escalation.

Dalio said in a LinkedIn post that the U.S. shutting off supplies to Huawei Technologies Co. amounts to a step in “weaponizing” export controls. After the move, China indicated that it might respond by not selling rare metals, a critical import that American companies need for mobile phones, magnets and other products, to the U.S.