Dec 2, 2021 - Politics & Policy

Mitt Romney calls Ray Dalio's China investments a "sad moral lapse"

Senator Mitt Romney, a Republican from Utah, walks to a Senate Republican caucus meeting at the U.S. Capitol in Washington, D.C., U.S., on Thursday, Oct. 7, 2021.
Sen. Mitt Romney walks to a Senate Republican caucus meeting at the Capitol on Oct. 7. Photo: Stefani Reynolds/Bloomberg via Getty Images

Sen. Mitt Romney (R-Utah) on Thursday criticized billionaire Ray Dalio's investments in China, writing in a tweet that "his feigned ignorance of China's horrific abuses and rationalization of complicit investments there is a sad moral lapse."

Driving the news: Romney's comments come after Dalio's firm, Bridgewater Associates, the largest hedge fund in the world, raised $1.3 billion in November for a new private fund in China, Bloomberg reports.

  • When asked about his investments in China earlier this week, Dalio said: "I can't be an expert in those types of things," adding, "I look to whatever the rules are."
  • "So the guidance of the government is the most important thing," Dalio also told Andrew Ross Sorkin on CNBC's "Squawk Box."
  • Axios has asked Ray Dalio for a comment about the tweet, and will add it when received.

The big picture: Dalio's comments come as some sports figures and organizations — including the Women's Tennis Association and Boston Celtics' Enes Kanter — are taking on Beijing ahead of the Winter Olympics.

  • The women's professional tennis tour suspended tournaments in China and Hong Kong this week amid concerns over the treatment of tennis player Peng Shuai.

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