Techub News reports that, according to CryptoBriefing, Ray Dalio, founder of Bridgewater Fund, said during an event in Shanghai that the United States is losing credibility on the global stage, while China continues to accumulate wealth and influence. He called US-China relations “the most critical factor for global well-being,” and said the current situation should draw the attention of all asset holders.

The investor noted that global leadership shifts in cycles, and the US is in the latter half of the curve. He previously said that tensions among major powers often lead investors to rotate into “hard assets” such as gold and Bitcoin. At present, many central banks are accumulating gold at a pace unseen in decades, and some countries are attempting to bypass dollar-based bilateral trade agreements.