Because Ray Dalio is the billionaire founder of Bridgewater Associates, the world’s largest hedge fund, when he speaks, people pay attention. When it comes to recent remarks made by billionaire investor Ray Dalio against Chinese policy, some individuals listened…then said “Wait, that was unusual.”
Asked on Wednesday at a CNBC interview how he could reconcile his company’s investments in China with the government’s alleged human rights abuses and the unexpected disappearances of prominent figures from public life, Dalio replied that he couldn’t. When asked about the question, Dalio gave an evasive response, claiming he “can’t be an expert in those types of things.” “As a top-down country, what they are doing is behaving in the manner of a strict parent,” he continued.
Utah Sen. Mitt Romney, who has described himself as a friend of “smart” billionaire Ray Dalio, chastised his friend on Twitter Wednesday. According to Romney, Dalio’s “feigned ignorance of China’s horrendous atrocities and justification of complicit investments in the country constitutes a regrettable moral lapse.”
A little background information about Bridgewater’s recent Chinese investment:
According to the Wall Street Journal, Dalio has been a long-time proponent of China, and Bridgewater just raised $1.25 billion for its third fund in the nation.
Although it is a small sum in comparison to Bridgewater’s total assets of $150 billion, the fund is one of the largest from any foreign private-fund manager in China, according to the Journal.
Without a doubt, Bridgewater is one of many US companies that have recently been questioned about their business efforts in China, particularly in light of the Beijing Winter Olympics, which are just two months away. According to Axios, Airbnb, a major Olympics sponsor, has a dozen properties for rent on land controlled by a US government-sanctioned entity in the Xinjiang region, which is located in the country’s northwest.
After the treatment of star Peng Shuai, the Women’s Tennis Association (WTA) has taken a stand against the Chinese government, saying this week that it will stop competitions in China as a result of the government’s actions.
Extend your view: When questioned whether the Olympics should be moved out of China, prominent sponsors such as Coca-Cola, Visa, and Allianz channelled their inner Dalio, stating that they would continue to support the Games regardless of where they were held.