Dec 2, 2021 - Politics & Policy

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

Erin Doherty

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.

Go deeper: Courage vs. coddling with China

Add Axios on Google

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

What to read next