Ray Dalio Says US-China Relations Are on the ‘Brink of Red Lines'
- US imposed export controls on advanced semiconductors to China
- US petroleum curbs against Japan preceded 1941 war outbreak
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Washington’s restrictions on advanced semiconductor exports to China are similar to the petroleum ban it imposed against Japan prior to the outbreak of war in 1941, according to Ray Dalio, founder of Bridgewater Associates.
“The reason in World War II — war with Japan — you had the cutting off of the oil and then sanctioning them, taking their payments,” Dalio told Bloomberg TV’s David Westin in a conversation at the Greenwich Economic Forum. Now, there’s a “much similar situation. Chip’s like oil back then.”