Ray Dalio

So Henry Kissinger first gets together, goes to China, and deals with reunification.

And then Nixon follows.

And there's this argument.

And they reiterate that Taiwan is part of China.

Everybody agrees on that.

and that there should be peaceful unification of China.

And that goes on 50 years now and brings it up to where we are today.

Okay, so a red line for China is if the United States or Taiwan says Taiwan should be an independent country

that would produce a war.

And everybody knows that.

All those in government would know that would produce a war.

This is a big thing for them.

In other words, they call that period of time 100 years of humiliation.

It was taken.

It's promised back.

And whatever, it's, in their mind, an indisputable reality.

Now we're in a situation in which the United States, and particularly some congressmen who are more hawkish, say, good chance, they will say, we will militarily defend Taiwan and then go on and sell them more military equipment.

So it's very, very close to saying I will... It's a separate state.

So we're very, very close to that particular issue.

So what will come... I don't believe China is going to initiate a move...