Ray Dalio has seen the future of the global markets and he insisted India is poised to become a major international player.
In an interview with India”™s Business Today TV, the founder of Westport-based Bridgewater Associates stated India”™s opening to the global capital markets will put the country in a dominant position.
“We use indicators of the next 10 years growth rate,” he said. “Some of the indicators include the cost of an educated person. In other words, not only the education level, but also how expensive it is. Others include barriers to trade and capital flows and the level of corruption. On balance, India should have the highest growth rate of any country.”
Dalio added that India will fill a void being left by the U.S., praising the country for mostly holding a neutral position in ongoing global conflicts.
“No longer is the United States the sole dominant power,” he said. “So, we have a great rivalry between China and the United States. And that is having economically disruptive effects. It makes the supply chains more difficult and so on. And that is adding to the inflation. And of course, it creates other worries as well.”
Dalio also faulted domestic rancor in his country, point to a “a great internal conflict due to large wealth differences that is producing populism of the left and populism of the right, which are at war with each other. We could see that particularly in the United States. How do you deal with those money issues? They’re not just money issues, but ballot politics.”
