Ray Dalio

That'll be a burden on China.

While at the same time, it's of course doing amazing innovations in a number of ways that are government directed.

So I don't wanna just say that it has those burdens and has a lot of really powerful thinking and quantity of,

engineers and what can be done is quite something.

They're more advanced in the use of AI for applications than the United States is, for example, actually using AI and so on.

Anyway, that's too long of an answer, probably.

No, I'm not.

I think, when I think about it, I think how much do I allocate to each market, right?

And I think of that first as a strategic asset allocation.

I look at things like what's the size of the market capitalization?

How is it easy for me to get my money in and out of the country?

What is, how attractive are they, and so on.

So there's a greater amount that I'm investing in the United States than I'm investing in China.

I think, and both have their,

their challenges and their benefits.

In the United States, it depends what market we're talking about, but if we're talking about a lot of the market, it's quite expensive.

And the nature of the flows are concerning.

and the nature of a number of circumstances are concerning.

If I'm looking at China, it's a different thing.

It's relatively inexpensive, some of those assets, but at the same time, capital flows and other issues also make it a problem.