As the U.S. gears up for its next presidential election in 2024, the country needs a "strong middle" political ground and bipartisan cooperation, according to Ray Dalio, founder of investment company Bridgewater.
"If you bring the sides together in a bipartisan way, and you create a strong middle, that's what the country needs in order to be healthy, I believe," Dalio said Tuesday in conversation with CNBC's Dan Murphy on stage at the Abu Dhabi Finance Week.
Two things are crucial for the U.S. in this process, Dalio said: firstly, he assesses that those with extreme political views should be alienated. Secondly, the country needs to "bring together the smart moderates to work together, and then to be able to make important reforms" to enable addressing issues such as the wealth gap.
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Dalio on Tuesday said that both parties face questions about their prospective presidential nominees.
Dalio expects the emergence of an alternative candidate to Trump among Republicans, as the party narrows down its final choice. Democrats are meanwhile facing internal divisions and concerns about Biden's age, he added.
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