Billionaire Ray Dalio Says U.S. Needs a Dose of China’s Common Prosperity
- China’s push boosts talent, fairness, Bridgewater founder says
- Dalio’s support for country under fire from politicians
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Ray Dalio, founder of the $150 billion investment firm Bridgewater Associates, urged countries including the U.S. to narrow their wealth gaps, while praising China’s drive for common prosperity.
President Xi Jinping’s push helps redistribute wealth and opportunities more equally among its population, allowing the economy to draw upon a wider talent pool, Dalio said at a UBS Group AG investment conference on Monday. The campaign is often misunderstood by international investors, who fear the country is returning to the communist model under Chairman Mao Zedong, he added.