- Billionaire investor Ray Dalio addessed Chinese human rights in his new book.
- He said it's "probably impossible to force" other countries to change their actions.
- The Bridgewater Associates boss recently clarified comments about China's practice of taking certain citizens out of the public eye.
Ray Dalio — the billionaire founder of Bridgewater Associates, the world's largest hedge fund — came under fire last week over comments he made about Chinese human rights.
In an appearance on CNBC, when asked about China's practice of taking certain citizens out of the public eye, Dalio likened those actions to those of a "strict parent."
He's since clarified those comments in a LinkedIn post.
It's a subject that Dalio has written about previously, most recently in his new book, "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail," which was released on Nov. 30.
In the book, he said it's important to recognize China and the US have different values and therefore will make different choices, and their ability to impose things on the other will depend on their relative power.
"Americans might not like how the Chinese handle their human rights issues and the Chinese might not like how Americans handle their human rights issues. The question is: what should be done about that—should Americans fight with the Chinese to impose what they think the Chinese should do on them and vice versa, or should they agree not to intervene into what each other does? In my opinion it is too difficult, inappropriate, and probably impossible to force others in other countries to do what they strongly believe is not good for them," he wrote on page 454.
He added that China and the US have many cultural differences — some of which people would fight to the death over. "Most Americans believe in 'give me liberty or give me death' while to the Chinese individual liberty isn't nearly as important as collective stability is," he wrote on page 449.
Dalio said in his book that he's been visiting China for 37 years and has become familiar with economic policy makers and many others who have helped China become a competitor to the US.
China has long been accused of punishing dissidents, including removing high-profile people from the public eye. Dalio explained in his book that China's leadership style is to make clear it is in a superior position to subordinate parties, who will be punished if they don't obey.
But, as he said on page 453, "they can also be wonderful friends who will provide support when needed, noting his Chinese friends gave the governor of Connecticut personal protective equipment at the beginning of the COVID-19 pandemic.
"As China goes global a number of countries' leaders (and their populations) have been both grateful for and put off by China's acts of generosity and strict punishments," he wrote in the book.
Dalio, who is heavily invested in the country, said he weighs the pros and cons of investing in China in light of human rights issues, but said his clients rely on the firm to invest in countries "in the best possible ways."