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SHANGHAI/BEIJING — Hedge fund magnate Ray Dalio is optimistic that a highly anticipated meeting next month of the U.S. and Chinese presidents can go a long way toward soothing bilateral tensions.
“The next meeting will have a particular emphasis on trade, but also capital flows,” the founder of Bridgewater Associates told CNBC’s Eunice Yoon on Wednesday in Shanghai.
Dalio said he expected the two leaders to demonstrate “empathy” and work through challenges together. “Investors should be encouraged by these things,” he said, noting it “carries through” to investments and markets.
While the three major U.S. averages have rebounded from losses during trade tensions about a year ago, the S&P 500 is still down more than 3% so far this year, due in part to concerns stemming from the Iran war.
