The Bridgewater Associates founder said what the world is witnessing is an extension of the patterns of history. He cited Germany in the 1930s, saying there was writedown of debt, a hike in tariffs to drive revenue and a buildup of its domestic base.
Billionaire investor Ray Dalio invoked 1930s Germany to illustrate his concerns about the global implications of the current trade war, while highlighting how countries that are neutral will fare well during such conflicts.
Dalio was speaking at a CNBC conference in Singapore on Wednesday, when he was asked what will ultimately happen as a result of the escalating conflicts over rising tariffs.
