Competitiveness is really what it costs you per man-hour to get you what you want. In other words, there's an education level that plays into the mix and so if it's inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.

In 2012 Dalio was named in Time 100 an annual list of the 100 most influential people in the world assembled by Time. In both 2011 and 2012 he was included by Bloomberg Markets in its 50 Most Influential ranking. Ray Dalio (born 1949) is an American businessman and founder of the investment firm Bridgewater Associates.