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Why Ray Dalio is wrong about China

Rewards for investors will fade, not increase, over time

| China
Bridgewater Associates co-chairman Ray Dalio, pictured in Beijing in March 2019: given that hedge funds tend to have short-term horizons, Dalio may well profit.    © AP

Andrew Hunt is CEO of Hunt Economics and former advisor to Dresdner Asset Management in Asia. Ben Ashby is a former managing director in JPMorgan's Chief Investment Office.

What do Goldman Sachs's new wealth management joint venture with Industrial and Commercial Bank of China (ICBC) and hedge fund billionaire Ray Dalio have in common? They are both part of a galaxy of global financial investors wanting greater exposure to China's financial markets because they think the country's rise is inevitable. We think they are wrong.

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