According to Fortune, for almost 40 years, Ray Dalio has spoken of his fascination with China and has been a vocal booster of the nation and its government.
He even sent his son Matt to China for a year to study and experience life there, when the boy was only 11 years old and could not speak Chinese.
Dalio tried to build a financial business in China in his early years, but eventually, he decided to focus on the business in the U.S., Bridgewater Associates.
In 2016, Bridgewater first set up an office in Shanghai’s Free-Trade Zone. The firm has since become one of 23 foreign asset managers granted a WFOE license, according to Shanghai-based Z-Ben Advisors.
According to MarketWatch, Bridgewater increased the number of shares it’s held in Alibaba by 29%, to take its holding in the Chinese internet services giant to the eighth highest spot in its portfolio.
The firm also increased its stake in JD.com by 33%, Pinduoduo by 38%, Baidu by 23%, and in Chinese electric vehicle maker Nio by 8%.
So why is Dalio so bullish on China? In this video, he explains this. He believes China has fast and wonderful development and provides great opportunities for investors.
Source: Finance Jane.