Envision a country in which “the state runs capitalism to serve the interests of most people” and our politicians won’t let “rich capitalists stand in the way of doing what they believe is best for the most people of the country.”
But recently on CNBC, far from celebrating America, Dalio was all moral equivalency as he analogized Beijing’s persecution and torture of its own people with “our own human rights issues” in the United States. He asked rhetorically, “Should I not invest in the United States?” on the basis of human rights.
“What they have is an autocratic system,” Dalio said of Beijing’s rule, “and one of the leaders described it, he said that the United States is a country of individuals and individualism,” while “in China, it’s an extension of the family” and the internal abuses of the Chinese government that disturb Americans are comparable to the discipline of “a strict parent,” according to the Chinese governmental official Dalio was quoting.
Dalio has spoken to the annual China Development Forum, which requires a six-figure donation to the Beijing government to attend, founded the “Beijing Dalio Public Welfare Foundation,” whose mission is “to contribute to a harmonious society,” and there is an auditorium named after him within Beijing’s historic Tsinghua University.
Tsinghua was founded in 1911 at the behest of President Theodore Roosevelt after the suppression of China’s Boxer Rebellion, originally as a prep school for Chinese students chosen to study in the United States.
Dalio’s deep knowledge and familiarity with the Chinese have paid off big. Bridgewater’s China subsidiary has delivered a dazzling 19 percent average annual return over its three years of operation, significantly exceeding the 16.3 percent of mainland China’s CSI 300 index over the same period. Obviously, there is serious money to be made in the soon-to-be largest economy in the world.
But those mounds of cash are soaked in the blood of many thousands of China’s own people. The Muslim-dominated far-west region of Xinjiang, after riots in its capital city, Urumqi, in 2009, has been subject to a mass persecution and incarceration without trial of its ethnic Uyghurs. The region is rich in fossil fuel resources and borders several countries strategically important for Beijing’s expansionist Belt and Road Initiative.
The Uyghurs, however, are only the most recent victims of communist Chinese persecution in the 21st century. Blind lawyer and activist Chen Guangcheng, for instance, was incarcerated for years and beaten for engineering a class-action lawsuit on behalf of victims of Beijing’s infamous one-child policy, finally fleeing with his family to the United States in 2013.
The regime has reneged on its promised “one country, two systems” approach to Hong Kong, clamping down on political freedoms in the former British colony, and Beijing’s air forces have been intimidating Taiwan since the weakness displayed by the Biden administration in the bloody Afghan withdrawal debacle. Expert observers now expect the regime to make a move to annex Taiwan sometime after the Beijing Winter Olympics in February 2022.
More importantly for those outside China who wish their children to enjoy the same political and economic liberties that have let them live prosperously, the Chinese Communist Party (CCP) has been executing global expansionist designs it has made no secret of planning.
The Department of Defense pointed out that “China is already ahead of the United States” in shipbuilding, with “the largest navy in the world, with an overall battle force of approximately 350 ships and submarines” compared to the U.S. Navy’s “293 ships as of early 2020”; the PRC’s “more than 1,250 ground-launched ballistic missiles (GLBMs) and ground-launched cruise missiles (GLCMs) with ranges between 500 and 5,500 kilometers” outclass the United States’ “one type of conventional GLBM with a range of 70 to 300 kilometers and no GLCMs.”
The Wall Street Journal reported on Dec. 5 that according to U.S. intelligence, China plans a permanent military base in Equatorial Guinea, which would be its first presence on the Atlantic coast.
As the Trump administration recognized, America was all in on a fallacy that was accepted by most in the free world: that free-market freedoms and U.S. support for China’s rise would wean it toward political liberty and away from its expansionist designs. It took a long time for the world to wake up to the reality that the CCP has for decades been using an aggressively lawless form of capitalism to spread the global reach of its tyranny.
For one of America’s most famous and gifted capitalists to help Beijing overtake and subjugate America will go down as one of the strangest cases of short selling in history.