Dalio: The market has been diversifying asset allocation and reducing dependence on US assets.

Ray Dalio, the founder of hedge fund Bridgewater, stated that the market has been continuously diversifying asset allocations and reducing dependence on US assets as a whole, especially central banks from around the world. "You see that gold has risen by 67%, it's not the precious metal itself that has increased by 60%," Dalio said. "It's mainly the central banks, as well as other buyers, diversifying their currency allocations, not just in US dollars." When discussing global tensions, Dalio pointed out that while the focus has been on trade wars, there has been little attention given to what he calls "capital wars" and their impact on the market. Regarding US President Donald Trump's statement that he would not use military force in pursuing Greenland, Dalio deemed this speech "very important, because there is a line, a red line."