The emerging debate over the health of China’s economy demonstrates how the world’s second largest economy is actually more competitive than the U.S., well-known hedge fund manager Ray Dalio told CNBC Friday.
The founder and co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates, likened China to Japan in its economic heyday.
“Years past in Japan when it was going strong, they called a recession anything less than 3 percent growth,” Dalio told CNBC’s “Squawk Box,” in an interview. “In China, anything less than 6 percent growth is a recession meaning it also...causes a lot of financial problems. It's disruptive and it's a problem.”