The rise of populism across developed nations is now more important than central banks for global market participants, Ray Dalio, the founder and co-chief investment officer at Bridgewater Associates, said Wednesday.
Dalio - whose company is often named the "world's largest hedge fund" with around $150 billion of assets under management - said that populism, which includes negative views on globalization, was now the number one concern for market participants.
"Populism is not just the belief that there is a wealth gap ... But it's also a sense that they don't represent me. It's a matter of nationalism, it's a matter of getting greater control. It's a matter of increased polarity - the left becomes more left, the right becomes more right - and that particular dynamic, I would say that this is the first year where populism is the most important issue globally," he said at a Bloomberg hosted panel at the World Economic Forum in Davos.