- Heidi Gutman / CNBC
Billionaire hedge fund manager Ray Dalio says that Chinese leadership is still trying to figure out US President Donald Trump.
When asked to characterize Chinese leadership’s feelings on Trump thus far, Dalio responded: “Quizzical.”
“I found the Chinese leadership to be intelligent, having equanimity,” and akin to good chess players, Dalio told an audience of Wall Street money managers at the Delivering Alpha conference on Tuesday, September 12.
“They’re in the process of figuring out what the new administration is like,” he continued.
Trump has had a mixed record with China thus far, backing off adamant claims during his campaign that the country manipulates its currency, but more recently threatening trade spats with the world’s second-largest economy.
He recently initiated a national security review of America’s use of Chinese steel, a thinly veiled first step aimed at increasing protectionism in the sector, according to Pedro da Costa.
Dalio, the founder of $160 billion firm Bridgewater Associates, has long had a fascination with China, and few US investors have matched the significant inroads into the country that Dalio has made.
The world’s largest hedge fund is preparing to launch a large investment fund within China.