Mubasher: Billionaire investor Ray Dalio warned that a trade war between the US and China could escalate into a capital war.
“There is a trade war, there is a technology war, there is a geopolitical war, and there could be a capital war,” Dalio said.
The founder of hedge fund Bridgewater Associates, the world’s largest, spoke at an event hosted by the New York-based National Committee on US-China Relations.
“My responsibility as a global economic investor is to find the elements that make countries succeed and fail, and to quantify those indicators,” Dalio said, according to the committee's tweets.
Dalio’s remarks came as the US and China are engaged in talks to end the long-drawn trade war that roiled financial markets and took heavy toll on growth worldwide.