It is only a matter of time before China’s financial system becomes a contender for Wall Street and the City of London’s supremacy, according to the founder of investment firm Bridgewater Associates, Ray Dalio.
In an interview with the Financial Times, he said 2020 was a “defining year” for the Chinese financial markets. The Covid crisis had highlighted the country’s economic outperformance, and spurred a trillion yuan ($155 billion) of investment inflows.
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