Ray Dalio, founder of Bridgewater Associates LP, speaks at the Abu Dhabi Finance Week (ADFW) in Abu Dhabi, United Arab Emirates, on Tuesday, December 10, 2024.
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Founder of Bridgewater Ray galio said on Sunday he worries that the crisis results from President Donald Trump fee and economical policies It will threaten the global economy.
« Right now we are at a decision -making point and very close to a recession, » Dalio told NBC News, « Meet the Press. » « And I worry about something worse than a recession if this is not managed well. »
The coverage fund billionaire said he is more concerned with commercial interruptions, increasing the United States debt and emerging world powers that reduce the international economic and geopolitical structure that has been established since the end of World War II.
« We move from multilateralism, which is largely a type of north -American world, to a unilateral world order in which there is a great conflict, » he said.
Dalio said that five forces are promoting history: economics, internal political conflict, international order, technology, and nature acts such as floods and pandemic ones. Trump’s rates have understandable goals, Dalio said, but they are being implemented in a « very disturbing » way that creates a global conflict.
The rapidly changing fare policies have increased international trade. Trump announced Wednesday A 90 -day break In its « reciprocal rates », but it remained firm in 10% of initial duties and 145% of reciprocal rates in China.
Then the customs and border protection of the United States announced a exemption Of the reciprocal rates of electronic consumption of Chinese consumption such as smartphones, computers and semiconductors at the end of Friday, although the products are subjected to a 20% rate imposed at the beginning of the year. But the secretary of commerce Howard Lutnick retreated on Sunday and said that the exemption was not permanent.
In a Wednesday position Ax, Dalio asked the United States negotiate A « winning » trade agreement with China that would appreciate the yuan against the dollar. He also called for the two countries to approach their increasing debts.
Dalio in « Meet the Press » said Sunday that Congress should reduce the federal deficit to 3% of gross domestic product, echoing feedback Made to CNBC’s Converge Live event in March.
« If they do not, we will have a supply demand problem while we have these other problems and the results will be worse than a normal recession, » said Dalio.
The value of the money is at stake, Dalio said. A bond market breakdown, combined with events such as international and international conflict, could be a more serious clash for the monetary system than the cancellation of President Richard Nixon’s gold standard in 1971 and the world financial crisis in 2008.
This change is avoidable, Dalio said, if the legislators work together to reduce the deficit and the United States do not recommend conflict and inefficient policy in the global scenario.
Pro: Look at CNBC’s full interview with Bridgewater Ray Dalio’s founder
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