Sen. Mitt Romney, R-Utah, attacked billionaire Ray Dalio on Thursday, claiming that the Bridgewater Associates founder’s investment in China constituted a “sad moral decay” given Beijing’s human rights record.
“Ray Dalio is brilliant and a friend, but his imaginary ignorance of China’s terrible abuses and rationalization of complicit investment is a sad moral decay. Tragically, it is shared by far too many here and throughout the free world.”[ads1]; Romney wrote on Twitter.
Bridgewater Associates raised the equivalent of about $ 1.25 billion for its third China-based investment fund last month, the Wall Street Journal reported.
Dalio has faced criticism for his comments in a recent interview with CNBC. When he was pressured for his attitude to invest in China, given the recent disappearance of professional tennis player Peng Shuai and other human rights issues, Dalio was evasive.
“I can not be an expert on that kind of thing. What I basically do, for 50 years, I invest all over the world,” said Dalio. “I look for the rules. If the government has a policy that I should do a certain thing and so on, but I can not be an expert on all these special dynamics.”
“As a top-down country, what they do is a bit like a strict parent,” Dalio added. “They behave like a strict parent, and they go through it. That’s their approach. We have our approach.”
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China has faced increasing pressure in recent weeks due to its human rights record. Senator Tom Cotton, R-Ark., Has called for a boycott of the 2022 Winter Olympics in Beijing in response to alleged abuses, while the Women’s Tennis Association recently suspended scheduled tournaments in China due to concerns about Peng’s treatment.