The most important thing is cooperation between elected officials and individuals, says the Bridgewater Associates founder.
, Bridgewater Associates’ billionaire founder Ray Dalio predicted a three-to-five year period of global restructuring, and that self-sufficiency, creativity, adaptability and bipartisanship will be the keys to economic recovery.
Bridgewater Associates with $160 billion in assets under management.“Not only will individuals want to ensure their self sufficiency, but countries are going to want to have self-sufficiency because they're also vulnerable,” said Dalio in the interview.makes him the 46th richest person in the world, said masks and ventilators manufactured and shipped from China, exemplified a “vulnerability” for the United States, and that “we're going to want to build those things to build self-sufficiency”—a process that will cause inefficiency.Ted Connect interview: “If we fight with each other, internally, or even externally, it’s going to make this thing very painful...how we are going to be with each other is the most important thing.” The founder of the largest hedge fund in the world, with $160 billion in assets under management, also warned that countries will need to tap into reserves to recover from the coronavirus crisis, “some of them will run out of those savings, even the rich countries...a lot of the world will not be protected.”“We have enough resources to make this all fine, and we have enough creativity,” Dalio said. “It’s all going to depend on how we are with each other.”have cut their trust funds by 50% in paying unemployment benefits to out-of-work residents. With unemployment expected to rise, states will continue to deplete their reserves and possibly need federal loans. Dalio and other financial experts predict that a post-coronavirus world looks like that of the Great Depression, requiring years of ingenuity on behalf of the government and individuals to foster recovery.
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