REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 17 (Reuters) - Legendary investor Ray Dalio, a big enthusiast and investor in China, said on Thursday the world's second largest economy is overdue in conducting a "big debt restructuring."
Dalio said deleveraging is never an easy task, but in the case of China it can be more manageable because most of its debt is in domestic currency and is held by its citizens.
Very popular among Chinese investors, Dalio is a self-proclaimed Sinophile with long connections with China.
Last year, Bridgewater doubled its fund assets in China to more than 20 billion yuan ($2.74 billion), cementing its position as the biggest foreign hedge fund in the country.
The hedge fund launched its first onshore China fund in 2018 and, since then, two other funds have been established.
Persons:
Ray Dalio, Bridgewater's, Brendan McDermid, Zhu Rongji, Dalio, deleveraging, Carolina Mandl, Sandra Maler
Organizations:
REUTERS, Chinese, Bridgewater Associates, Bridgewater, Carolina, Thomson
Locations:
New York City, U.S, China, . Connecticut, New York