Bridgewater’s Ray Dalio Praises the CCP’s “Common Prosperity”

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Raymond Thomas Dalio is an American billionaire investor and hedge fund manager, who has served as co-chief investment officer of the world’s largest hedge fund, $150 billion Bridgewater Associates, since 1985. He founded Bridgewater in 1975 in New York. Mr. Dalio is personally estimated to be worth $18 billion.

Mr. Dalio has benefited mightily from the US supply chain moving to China after that country was inducted into the World Trade Organization in 2001. Bridgewater has used the rise of the Chinese Communist Party (CCP) as an opportunity to underwrite the regime with the money entrusted to his company by the savings and pension funds of ordinary US citizens. Much of this investment has gone to support and grow CCP-controlled companies in the high tech, military and surveillance industries, which subsequently have been used by the CCP to subvert the west, enslave its population and prepare for the subversion of, and ultimately the take-over of Taiwan and the West.

At the UBS Group investment conference Mr. Dalio praised the CCP’s “Common Prosperity” crackdown on individuals and businesses portrayed by the CCP regime as a campaign to more broadly distribute the gains of China’s growth.  “First you get rich and then you make a point of distributing those opportunities in a more equal way”, Mr. Dalio facetiously said. “I think a lot of people…tend to make a mistake of thinking that this is like a return to communism under Mao, rather than understanding it’s just part of the evolutionary process(2)” Reuters report Dalio as saying. “I think the United States through its own system needs more common prosperity and a lot of countries do(2)”. Comically, Dalio is implying that the autocratic Communist economic model is better at distributing wealth than the Capitalist one.

Dalio discussed the crackdown by the CCP in China as if it were broadening access to the Chinese economy’s benefits rather than centralizing power. Chinese President Xi’s reforms were going to “create a fairer system,” Dalio comically claimed without evidence.

On the contrary, critics see the treatment of Jack Ma, co-founder of Alibaba who recently all but vanished from the public eye, and the crackdown on some of China’s most high-flying businesses and entrepreneurs as a part of a campaign to consolidate power by dictator Xi Jinping and the Communist Party he controls.

President Xi’s slogan “Common Prosperity” is simply a cynical strategy with the goal of mimic the class struggle of the Mao years. Turning the Chinese middle and lower class against successful entrepreneurs and politicians in order to give Xi an opening to eliminate his opponents through “political cannibalism and the meat grinder of power politics (1)“.

The friend-enemy dichotomy advocated by German Fascist legal scholar Carl Schmitt as well as Mao Zedong has been revitalized by Xi to serve his cult of personality and personal dictatorship. No wonder the Chinese dissidents’ community gave him a moniker: Xitler.(1)

Xi survived attempted assassination which convinced him that a faction of plutocrats was planning a coup against him. Understanding that money is the key to control in the power game of the Chinese political oligarchy, and after successfully controlling the supreme positions of the CCP, Xi embarked on strategies to knee-cap the strength of rival factions in the CCP. And thus was born the “Common Prosperity” slogan as an umbrella, a cloak for the clamp-down.

To control the purse strings became Xi’s urgent top priority and the last battle for a total control over China under him as the core of the fifth-generation leadership and the leader for life. Out of his Maoist instinct, Xi allied with the SOEs [state-owned enterprises] against the private and foreign enterprises and used “anti-corruption” as a weapon to purge his opponents and competitors (official sources say that so far more than 4 million party members and cadres have been punished or purged since Xi took full control). Through confiscating the loot and properties of corrupt officials and ‘crooked’ businesspeople, Xi would harvest wealth to shore up his own power base and to make a pro-poor gesture to nurture and exploit the rising populism (1)“.

It is doubtful that Xi is a true Maoist revolutionary. Would he dare release the full force of populism and let it run unchecked? Is he leading China back to a Cultural Revolution? More likely, he understands the strategies of the Mao-years well, and is using them to consolidating the repressive state establishment. 

SAN FRANCISCO, CALIFORNIA - OCTOBER 02: Bridgewater Associates Founder & Co-Chairman/Co-CIO Ray Dalio speaks onstage during TechCrunch Disrupt San Francisco 2019 at Moscone Convention Center on October 02, 2019 in San Francisco, California. (Photo by Kimberly White/Getty Images for TechCrunch)
Image Source: breitbart.com – Photo by Kimberly White/Getty Images for TechCrunch

The slogan of “common prosperity” can be viewed as a piñata hung by Xi and his party-state: on the one hand, it creates a target for people to vent their anger and frustration at the rich and the venal. The so-called “rich hating” or “official hating” mentality has been manipulated by the ruling elite carefully to release the pressure within the society and to evaporate their competitors (1)“.

Although such artifice works on greedy westerners like Dalio who have been profiting from the chaos of the CCP for decades, it can only work upon a fraction of Chinese. It can never work its magic upon all Chinese, especiallynot on the close to 100 million overseas Chinese. In particular, it does not work on the members of the New Federal State of China (NFSC) who are actively opposing the CCP with the aim of taking down the regime.

Mr. Dalio is making a fool of himself with his transparent attempts to ingratiate himself to the evil trans-national criminal organization that is the Chinese Communist Party. He is falling – perhaps willingly and with open eyes – into the trap set by Xi and the CCP. As usual, greed trumps any ethical, or even longer-term survival considerations of the Western Elites.

REFERENCE:

[1] ) “China’s common prosperity: The Maoism of Xi Jinping”, Mercy Kuo, The Diplomat, Sep 23, 2021 https://thediplomat.com/2021/09/chinas-common-prosperity-the-maoism-of-xi-jinping/

[2] “Billionaire U.S. Hedge Fund Manager Ray Dalio Gushes Over China’s ‘Common Prosperity’ Crackdown”, John Carney, Breitbart, Jan 11, 2022  https://www.breitbart.com/economy/2022/01/11/ray-dalio-china/

Editor: UCool

Posted by: UCool

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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4 months ago

Mr.Ray Dalio acts like a running dog of evil CCP. All those should be answered for in the coming future.