The hedge fund titan believes it is too late for central banks to reverse a global slowdown..
said the global business cycle is in a "great sag" and the world's economy holds at least two parallels to the 1930s.
"This cycle is fading, we are now in the world in what I would call a 'great sag'," said Dalio, adding that monetary policy, and especially interest rate reductions, were unlikely to offer much stimulus. Dalio said the world was also experiencing the biggest wealth gap since the 1930s and that was creating political stress.
Dalio told the CNBC panel that China's new swagger was further evidence that the world now echoes the depression era of the last century.
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