Billionaire investor Ray Dalio warns the US and China are 'dangerously close' to a war that would crush economic growth
The US and China look like they're moving towards a military conflict over Taiwan that would crush economic growth, influential investor Ray Dalio has warned.
"The mere perception that military war is a possibility has a negative effect on markets and economic activity. Obviously, the reality of it would be disastrous," he added.with his Chinese counterpart Xi Jinping for the first time since taking office Monday, when they signaled they wanted to improve relations strained by tensions over Taiwan.
War in Taiwan is most likely to happen in around two years' time, Dalio predicted, given the more hawkish Republican party is favored to win the next US presidential election and a global economic downturn is likely to cause desperation. "Just the possibility of more intense war with the United States is having detrimental effects on the world," he said.
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