Ray Dalio 'wrong' about China tech crackdown, economist says

China expert George Magnus disagrees with Bridgewater Associates' Ray Dalio on Beijing's tech crackdown. In a LinkedIn post this month, Dalio said investors were misconstruing a clampdown by China on sectors including fintech, online tutoring and food delivery as "anti-capitalist." "The trend over the last 40 years has clearly been so strongly toward developing a market economy with capital markets, with entepreneurs and capitalists becoming rich," the billionaire hedge fund manager said. "As a result, they've missed out on what's going on in China and probably will continue to miss out," Dalio added. Magnus thinks Dalio is mistaken. The economist,…