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Why Bridgewater’s Ray Dalio is backing China’s push for prosperity under President Xi Jinping
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Bridgewater Associates founder Ray Dalio backed China’s push for “common prosperity”, or greater equality, under President Xi Jinping and said countries such as the US 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, video games, property and after-school tutoring. The heightened regulatory pressure in turn has caused steep declines for many Chinese stocks listed in the US and Hong Kong, and prompted many investors...
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