US billionaire says China comments misunderstood

[Mr. Sparkle]

Source: BBC

Billionaire investor Ray Dalio has become the latest high-profile Wall Street figure to become embroiled in controversy over comments about China. Mr Dalio took to social media at the weekend to say comments he made in a TV interview had been misunderstood. It came after he compared China to a "strict parent" when asked last week about the disappearance of dissidents. Last month, JP Morgan boss Jamie Dimon apologised after saying his firm would outlast China's Communist Party.

The founder of Bridgewater Associates - which is largest hedge fund in the world - said in a Twitter thread and LinkedIn post that he had "sloppily answered a question about China". In the posts, he went on to say that he did not mean to downplay the importance of human rights issues but was "attempting to explain" the Chinese approach to governing as an extension of Confucian ideas about family.
"I assure you that I didn't mean to convey that human rights aren't important because I certainly believe they are... My overriding objective is to help understanding," the post continued.

After Mr Dalio's original comments, he was criticised by Republican senator Mitt Romney, who accused him of feigning "ignorance of China's horrific abuses and rationalization of complicit investments there" and that it was "a sad moral lapse." In November, JP Morgan chief executive Jamie Dimon said he regretted saying that his Wall Street bank would be around longer than the Chinese Communist Party. The comment, made at a US event, sparked anger in China, with experts warning that it could jeopardise the bank's ambitions in the the world's second largest economy.

Read more: https://www.bbc.com/news/business-59543875

[bucolic_frolic]

1. I'm no fan of billionaire hedge fund managers

but Ray Dalio is some piece of work on economic history. It's why he got where he is.

[Alexander Of Assyria]

2. Thinking American fascists have no right to feign outrage over communism based on

Confucian family principles versus the present day weak tea semi-democracy of America. And maybe even the non-fascists need to recall American human rights abuses towards for example slaughtered school children…with weapons protected by the supreme court and legislative branches.

So…America, semi-democracy, China semi-Communist, live with it….why does everything have to be a pissing contest?

[Sapient Donkey]

8. Does that mean the Chinese government is off limits

to criticism? Does that also mean the the US government is off-limits?

I don’t understand the opposition to calling out China, Russia, etc on the same sort of issues that call out our own western countries on.

Perhaps I am misunderstanding what you’re saying.

[Alexander Of Assyria]

11. Meant to say China should be roundly crucified for human rights abuses, just don't want to hear it

such coming out of the mouths of senior American fascist party members.

[yaesu]

3. Proving that sociopaths make great CEO's for insurance companies & banksters. nt

[inwiththenew]

4. Wall Street and corporate America are absolutely terrified of angering the Chinese government

That's a lot of money they don't want to miss out on.

[Farmer-Rick]

5. Let's face it China is not Communist

They actually think of themselves as socialists, though they are not that either.

They are a totalitarian government run by only one party. So, no the worker doesn't get to own the means of production as both socialism and communism requires.

But then again we are not a democracy but a full blown oligarchy though we like to pretend like we don't let psychopaths CEOs control our government.

[Javaman]

6. just another greedy fuck, who, because of his money, thinks he knows everything.

he's so removed from reality, that he thinks that the great unwashed need to be further put down.

greed/money is the only religion that requires no empathy.

[Oneironaut]

7. Stop sitting on the fence...

Especially Hollywood.

Free the country of Taiwan.

[raccoon]

10. Who'd know about Chinese comments, if not a US billionaire? :sarcasm: nt