Tourists admire the skyline view of Lujiazui area at the Bund in Shanghai, east China, Jan. 6, 2020. (Xinhua/Wang Xiang)
"The world order is changing, yet many are missing this because of a persistent anti-China bias."
LONDON, Oct. 27 (Xinhua) -- The anti-China bias "has blinded too many for too long to opportunities" in a changing world, a major British newspaper has reported.
"The world order is changing, yet many are missing this because of a persistent anti-China bias," said the Financial Times in a recent opinion article.
Ray Dalio, the founder, co-chairman and co-chief investment officer of Bridgewater Associates which is a U.S. investment management firm, argued in his article that despite some persistent doubt about the country, China is "succeeding in exceptional ways".
Photo taken on July 16, 2020 shows a container dock in Tangshan City, north China's Hebei Province. (Xinhua/Yang Shiyao)
China has achieved some of the world's lowest COVID-19 case rates, Dalio said, adding that over the past year, China's economy grew at almost 5 percent, without monetizing debt.
Just over the past four decades, China's economic changes have been remarkable, Dalio said.
"China's extraordinary performance isn't new...it has historically been one of the world's most powerful countries and cultures," he said.
As a global macro investor, Dalio said he looks at fundamentals and how others are positioned while thinking about investment opportunities.
Workers check a production line at Lianyungang Economic and Technological Development Area in Lianyungang, east China's Jiangsu Province, July 16, 2020. (Photo by Geng Yuhe/Xinhua)
"China's fundamentals are strong, its assets relatively attractively priced, and the world is underweight Chinese stocks and bonds," said Dalio, noting that Chinese markets are opening up increasingly to foreigners.
"As a result, I expect China to enjoy favourable capital inflows that will support the currency, already at a two-year high, and financial markets too," he said in the article.
Prejudice and bias always blind people to opportunity, Dalio said.
"So, if you have been a China sceptic for reasons that don't square with what is happening there, I suggest you clear your mind," he said. ■
