Billionaire Ray Dalio says the US could learn from China's equality drive, and says it's the riskier place to invest

The hedge fund was founded by Ray Dalio.

The web summit was hosted by Eoin Noonan.

The US economy would benefit from a similar focus on equality as China, according to investor Ray Dalio.

The US is riskier to invest in than China because of its decline in competitive advantages, according to the founder of hedge fund.

The subject of China is highly divisive on Wall Street, where leading financial figures are debating whether it makes sense to put money into the second-largest economy in the world.

According to reports in the Wall Street Journal and elsewhere, the founder of the hedge fund firm told the Greater China Conference on Monday that common prosperity is a good thing. It's another way of saying "prosperity for most people."

Critics are wrong to think that the drive is a return to the Communism of Mao Zedong, he said.

You get rich first. "Then you make a point of distributing those opportunities in a more equal way," he said. The US needs more common prosperity.

Common prosperity is a broad range of policies that aim to reduce inequality in the Asian economic powerhouse.

The drive has focused on cracking down on the power of private companies, such as Didi and e- commerce giantAlibaba. When the CSI 300 index fell more than 5%, investors decided to sell their Chinese assets.

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The co-CIO of the world's biggest hedge fund has long been a strong supporter of China, where his company has large economic interests.

Some on Wall Street are not convinced. Jeffrey Gundlach, CEO of DoubleLine Capital, said last week that China is uninvestible because of regulatory uncertainty. Last year, legendary investor George Soros criticized the push into China by BlackRock.

The US is a riskier place to invest than China, according to a report.

The US is more exposed to those risky elements. Education levels, competitive advantages, and so on are all on the decline.

At the end of the year, he was criticized after he compared the government to a "strict parent" when asked about forced disappearances in the country.

Business Insider has an original article.