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Does that mean Ray Dalio is pessimistic about US prospects and thinks China will dominate the future?

But how does one invest in China without worrying about their capricious, personality-centered policies?

He's written (a lot) about his views on the future of the US and China here [1]. In general, he views them as the rising world power and the US being in (at least relative) decline. He seems about as well informed as anyone, apparently he's been involved there for 36 years and has personal relationships with high-level officials (I believe he even sent his kid to live and go to school there for a while). He also has a section on cultural differences - he expects them to continue to develop but doesn't expect them to become like the US.

As for how other people should invest there, I have no idea.

[1] https://www.principles.com/the-changing-world-order/

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