Ray Dalio Says China’s Winning Trade War With US, But a Clash Is Avoidable

Ray Dalio, the founder of hedge fund Bridgewater Associates, said China is coming out on top in the trade war with the US, though the standoff between the world’s two biggest economies likely won’t escalate into military conflict.

The billionaire investor told a conference in Dubai on Wednesday that the renminbi was beginning to be used more widely for international trade and the real winners of the confrontation will be those able to tap into both the US and China.