Discussing the country’s infrastructure development, Dalio said, “When you’re building infrastructure, when you’re creating the things that are happening, not only all the different infrastructure, including the ability to get credit and the ability to do transactions and so on, in that, that produces a growth curve, particularly if you don’t have very much debt, and you have talented people.”
“So, for those reasons, I think, India, over the next 10 years, has all the ingredients to really be the strongest growth rate and improvement,” claimed the global market expert.
However, Dalio added that India “still has development to do”. “It is more akin to where China was 30 years ago, maybe, than where China is today. So, it has that growth. The actual power of it is not as great as those other two countries,” (US and China) he said.
Comparing US and China, Dalio believes China is ahead and behind in different ways. “For example, the inventiveness of new chips and the most advanced chips, the United States is a bit ahead. But the application to use the chips, whatever AI there is, to be able to integrate it into life and making it for the society, most applications and most effect, China’s ahead,” explained Dalio.
