Bridgewater’s Ray Dalio, Singapore’s GIC chief firm on China despite global growth worries
Both say they are increasingly cautious on the year ahead due to political risk and uncertain global growth prospects
Ray Dalio, founder of the world’s largest hedge fund, and Lim Chow Kiat, the boss of Singapore’s sovereign wealth fund GIC are increasingly cautious on the year ahead due to political risk and uncertain global growth prospects.
However, both said on Wednesday they remained committed to investing in China, despite challenges such as rising debt problems and geopolitical tension.
Dalio, who founded Bridgewater Associates, said geopolitical issues and the cost of climate change and its implications for financial markets were among factors that could create negative risks for global investors in the next year.
“The surprises are more on the downside than the upside,” Dalio said at the Milken Institute Asia Summit 2024 in Singapore.
Dalio said despite the US having a lot of positives, there is a risk around an orderly transition of power.
GIC CEO Lim said the Singaporean sovereign wealth fund has to be more selective in terms of finding investment opportunities rather than making wholesale big market allocations.
