{"id":1208671,"date":"2022-01-11T16:04:57","date_gmt":"2022-01-11T21:04:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1208671"},"modified":"2022-01-11T16:05:03","modified_gmt":"2022-01-11T21:05:03","slug":"billionaire-u-s-hedge-fund-manager-ray-dalio-gushes-over-chinas-common-prosperity-crackdown","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/billionaire-u-s-hedge-fund-manager-ray-dalio-gushes-over-chinas-common-prosperity-crackdown\/","title":{"rendered":"Billionaire U.S. Hedge Fund Manager Ray Dalio Gushes Over China&#039;s &#039;Common Prosperity&#039; Crackdown"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbillionaire-u-s-hedge-fund-manager-ray-dalio-gushes-over-chinas-common-prosperity-crackdown%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1208671&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-1178614043-e1641923788130-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">Ray Dalio admires China\u2019s push for \u201ccommon prosperity\u201d and thinks the U.S. should adopt a similar approach.<\/p>\n<p>The founder of the $150 billion investment firm Bridgewater Associates praised China\u2019s <a href=\"https:\/\/www.breitbart.com\/news\/china-chases-rejuvenation-with-control-of-tycoons-society\/\">crackdown on and individuals and businesses<\/a> from video games, to property development, to test preparation as part of a campaign to more broadly distribute the gains of China\u2019s growth over the past two decades.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>\u201cAs Deng Xiaoping and others understood, it\u2019s a cycle,\u201d Dalio said at a UBS Group investment conference Monday, <a href=\"https:\/\/www.wsj.com\/articles\/bridgewaters-ray-dalio-endorses-chinas-common-prosperity-drive-11641870491\">according to the&nbsp;<em>Wall Street Journal<\/em>.<\/a> \u201cFirst you get rich, and then you make a point of distributing those opportunities in a more equal way.\u201d<\/p>\n<p>Critics see the treatment of Jack Ma, co-founder of Alibaba who recently all-but <a href=\"https:\/\/www.breitbart.com\/asia\/2021\/11\/11\/chinas-biggest-shopping-day-loses-glamor-after-jack-ma-crackdown\/\">vanished<\/a> from the public eye, and the crackdown on some of China\u2019s more high-flying businesses as part of a campaign to consolidate power by dictator Xi Jinping and the Communist Party he controls.<\/p>\n<p>\u201cI think a lot of people\u2026 tend to make a mistake of thinking that this is like a return to communism under Mao, rather than understanding it\u2019s just part of the evolutionary process,\u201d Reuters <a href=\"https:\/\/www.reuters.com\/markets\/us\/bridgewaters-ray-dalio-advises-being-underweight-cash-due-inflation-environment-2022-01-11\/\">reports<\/a> Dalio said. \u201cI think the United States through its own system needs more common prosperity and a lot of countries do.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Dalio, a longtime advocate of investing in China, denied that the Communist leaders were \u201cshowing their true anticapitalist stripes.\u201d<\/p>\n<p>That echoed the message from China Vice Premier Liu He, Xi\u2019s top economic aide who led China\u2019s trade talks with the Biden administration last year. He said that China\u2019s economic policies supporting the private sector had not changed \u201cand will not change in the future.\u201d The following day, the People\u2019s Daily, China\u2019s state-controlled newspaper, ran a front-page editorial with the same message.<\/p>\n<p>\u201cOpening to the outside world is China\u2019s basic national policy, and it will not waver at any time,\u201d the editorial said.<\/p>\n<p>\u201cCommon prosperity is a good thing,\u201d Dalio said, adopting the Communist interpretation of the economic crackdown. \u201cIt\u2019s another way of saying prosperity for most people.\u201d<\/p>\n<p>Similar ideas have appeared frequently in the&nbsp;<em>People\u2019s Daily<\/em> and the&nbsp;<em>Global Times<\/em>, the Chinese Communist party-controlled newspaper.&nbsp; That paper\u2019s longtime editor <a href=\"https:\/\/www.breitbart.com\/\">recently retired<\/a>, creating an opening for a skilled propagandist willing to tout the party line. The position likely pays substantially less than the $2 billion Dalio is said to have received in compensation in 2018.<\/p>\n<p>Dalio is reportedly worth over $18 billion, making him one of the wealthiest people in the world.<\/p>\n<p>Dalio discussed the crackdown as if it were broadening access to the Chinese economy\u2019s benefits rather than centralizing power. Xi\u2019s reforms were going to \u201ccreate a fairer system,\u201d Dalio claimed without evidence.<\/p>\n<p>\u201cYou don\u2019t know where the top talent is going to come from. It\u2019s just as likely to come from poor people, disadvantaged people as it is from the most superbly groomed people,\u201d Dalio said, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-11\/ray-dalio-says-u-s-needs-a-dose-of-china-s-common-prosperity?sref=Hpp1MmFS\">according to Bloomberg News<\/a>. \u201cSo you draw upon that talent, and you make a better economy more prosperous and you create a fairer system.\u201d<\/p>\n<p>China is currently imprisoning hundreds of thousands, if not&nbsp;<a class=\"c-link\" tabindex=\"-1\" href=\"https:\/\/www.breitbart.com\/national-security\/2019\/05\/06\/feds-china-muslim-crackdown-number-detainees-may-have-tripled-less-than-1-year\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/www.breitbart.com\/national-security\/2019\/05\/06\/feds-china-muslim-crackdown-number-detainees-may-have-tripled-less-than-1-year\/\" data-sk=\"tooltip_parent\" data-remove-tab-index=\"true\">millions<\/a>, of Muslims \u2013 mostly Uyghurs, but also members of the Kazakh and Kyrgyz communities \u2013 in concentration camps in Xinjiang. Survivors of the concentration camps say they have been subjected to torture, indoctrination, gang rape, and slavery at the camps. The slaves are unlikely to benefit from this so-called \u201ccommon prosperity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ray Dalio admires China\u2019s push for \u201ccommon prosperity\u201d and thinks the U.S. should adopt a similar approach. The founder of the $150 billion investment firm Bridgewater Associates praised China\u2019s crackdown &#8230;<\/p>\n","protected":false},"author":11,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1208671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1208671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1208671"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1208671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1208671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1208671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1208671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}