The head of China research for Bridgewater Associates said that China will become the world’s largest economy in approximately 10 years because of the country’s decision to open its markets to outsiders. This according to an article in Chief Investment Officer.
Speaking at the board meeting of the Arizona Public Safety Personnel Retirement Trust last month, Bridgewater’s Paul Podolosky told pension officials that Chinese assets are appealing as more than just a good portfolio diversifier, but also because they are not correlated closely to other assets. He said that increasing trade tensions between China and the U.S. don’t really concern Bridgewater, adding that the trade war is narrowly about market access and the protection of intellectual properties and, more broadly, about a wealth shift. “If you look back further through time,” he told the board, “China was one of the dominant powers.