An American billionaire and hedge fund manager with large investments in China defended the communist regime against questions about his decision to invest in the country.
Ray Dalio, director of the world’s largest hedge fund, said the Chinese government disappears from its people because it is a “top-down” country where the government acts like a “strict parent”. in one interview with CNBC on Tuesday.
“What they have is an autocratic system, and one of the leaders described it, he said that the United States is a nation of individuals and individualism,” while the Chinese government acts as an “extension of the family”.
“As a top-down country, what they’re doing is like being a strict parent,” Dalio said.
Dalio, valuable about 20 billion dollars, made similar comments about China in a September 15 interview on CNBC. Dalio has been pressed about his investments in China due to China’s recent regulatory crackdown Communist China Party.
“I can’t tell you if their approach, our approach, my job isn’t to do that but they have a top-down rather than a bottom-up approach, very like a strict parent,” Dalio said.
Dalio’s hedge fund, Bridgewater Associates, is the largest in the world, with $223 billion in assets under management as of July, according to CNBC.
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https://www.tampafp.com/billionaire-with-massive-chinese-investments-says-communist-party-disappears-people-because-its-like-a-strict-parent/ Chinese billionaire investing heavily says Communist Party makes people disappear because ‘like strict parents’