geopolitics-00427
Bridgewater's Ray Dalio says China is poised to topple the US as the world's most powerful empire.CREDIT:BLOOMBERG

Bridgewater founder Ray Dalio says the new world order is changing, with China rapidly closing in US as “the most powerful empire” on the globe.

In the latest instalment of his series on the changing world order, Dalio said the gap between US and China is closing and the two economic superpowers remain streets ahead of their global peers.

“The United States is now the most powerful empire by not much, it is in relative decline, Chinese power is rapidly rising, and no other powers come close,” Dalio said.

Bridgewater is the world’s biggest hedge fund and has made more than $US50 billion ($76 billion) for its clients since its beginning in 1975, according to estimates by LCH Investments, although last year its main fund suffered its first loss since 2000.