Is investing in China worth the risks? For Ray Dalio, who has spent 40 years nurturing his Beijing connections, the answer is easy.
Ray Dalio, the founder of the world’s biggest hedge fund, spends a lot of time contemplating what he deems the China “riddle.”
“How is it that a communist country can be so capitalist that they have the second largest capital market in the world, produce billionaires, and simultaneously be Marxist?” he asks from his Connecticut home, where The Wire reached him by Zoom. “If you don’t know how to answer that riddle, then you must not understand China.”
Dalio, 72,
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Bob Fu's relationship with China has gone through phases. First, he thought money would solve his problems there; then he joined protesters at Tiananmen Square, thinking the politics could change. In the end, he determined, only God could save China, and he's been fighting for religious freedom in China ever since he resettled in Texas. With his nonprofit, ChinaAid, prospering like never before, he says the U.S. is finally catching on.
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