Ray Dalio Talks about China, and Whitney Tilson Weighs in on Mamdani’s Feud With Griffin

Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week Ray Dalio took us through US-China relations as the presidents met in Beijing, and we took score of the penthouse tax war between Mayor Zohran Mamdani and Ken Griffin. If you’re not yet a subscriber, sign up here for this newsletter.

President Donald Trump took a trip to Beijing this week, just as Bridgewater founder Ray Dalio has done many times over the past several decades. Having paid another visit just shortly before the summit, Dalio says that from the Chinese perspective, “they think the United States is declining and that they are sort of winning that relative war.” That perception of relative strength is based in large part on the economics: “China is making a ton of money through their export earnings and the amount of financial assets that they’ve accumulated and are accumulating is huge.”