Billionaire predicts rise of China as US empire collapses

RT.com
26 Jan 2022, 04:13 GMT+10

Ray Dalio compares political risks in the US with recent economic growth in China

China is winning the economic competition against the United States, according to Ray Dalio, the founder of the world's largest hedge-fund firm, Bridgewater Associates.

The US is in "relative decline," while "China has been rising," Dalio said on Monday during a wide-ranging interview with Bloomberg. He noted that the US Federal Reserve has been "behind the curve" on monetary policy, adding that "rising interest rates means all other assets have to adjust."

Dalio contrasted political risks in the United States with recent economic growth in China, saying there's a "reasonable chance" neither major US political party will accept the results of the 2024 election.

"There is a worry that one should have about the divisiveness and what it means for each other," he said.

The billionaire has long predicted that the Chinese economy will overtake the US in size to become much more powerful.

Earlier this month, Dalio praised China's drive for common prosperity while urging nations including the US to narrow wealth gaps.

For more stories on economy & finance visit RT's business section

(RT.com)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Japan Herald.

More Information

21 ℃

Mostly Cloudy in Tokyo Heliport

Asia Pacific

Section

South Korea president pledges aid to North in treating Covid outbreak

SEOUL, South Korea: As North Korea grapples with a severe COVID-19 outbreak, South Korean President Yoon Suk-yeol has said that ...

China lashes US for change on website supporting Taiwan independence

BEIJING, China: China's Foreign Ministry rebuked the U.S. for changing the wording about Taiwan on the State Department website, stressing ...

China's Green Valley ends Alzheimer's drug test due to funding

BEIJING, China: China's Green Valley Pharmaceutical company has prematurely ended an FDA approved study on its GV-971 to treat mild ...

Russia ranks unfriendly nations

The US and its allies have destabilized global energy and food markets with their sanctions, top official claimsRussian State Duma ...

North Korea Looms as Biden Makes First Asia Trip

SEOUL, SOUTH KOREA - Although U.S. foreign policy during the first part of Joe Biden's presidency has focused more on ...

Univariety's Global Career Counsellor Program brings Study Abroad - A huge earning opportunity for career counsellors

Hyderabad (Telangana) [India], May 19 (ANI/NewsVoir): TheThere are lakhs of students who go abroad for higher studies every year. Both ...

Business

Section