Bridgewater Associates LP founder Ray Dalio backed China’s push for “common prosperity,” or greater equality, under President Xi Jinping and said countries such as the U.S. could benefit from a similar approach.

Beijing’s pursuit of common prosperity has been a driver behind its wide-ranging crackdowns on sectors such as e-commerce, videogames, property and after-school tutoring. The heightened regulatory pressure in turn has caused steep declines for many Chinese stocks listed in the U.S. and Hong Kong, and prompted many investors to reassess the risks and rewards of Chinese assets.

Source: WSJ

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Belarus seeks Russian missiles as border tensions rise

Belarus’s authoritarian leader Alexander Lukashenko said that he wanted Russia’s Iskander missile…

FC Barcelona Have Three Candidates In Line To Replace Ronald Koeman

Ronald Koeman could be about to lose his job at FC Barcelona.…

China’s Evergrande Downgraded By Ratings Agency After Defaulting On Debt

Topline China Evergrande Group has defaulted on its debt to global investors…