Billionaire investor Stanley Druckenmiller, who rose to prominence working alongside George Soros as well as managing his own successful hedge fund firm Duquesne Capital, isn't buying into the recent surge in Chinese stocks, according to a report by Barron's.

The report quotes the 71-year-old billionaire, who now managers money through a family office, as saying at Grant’s Annual Fall Investment Conference, that he has no plans to invest in China, due to political concerns and an unfavourable economic environment.

During the conference, Druckenmiller shared his current investment outlook, revealing that he owns gold but not gold miners, a position he regretfully sold off prematurely. Among his equity picks, he expressed confidence in Coherent Corp (COHR), a player in the AI sector.

However, Druckenmiller's most intriguing remarks revolved around politics and his global investment strategy. Known for his pro-free market, anti-tariff stance, Druckenmiller criticised both US Vice President Kamala Harris and former President Donald Trump, saying he wouldn’t support either in a future election. He refrained from disclosing his preferred candidate but has previously voiced support for former South Carolina Governor Nikki Haley.

On international markets, Druckenmiller stated that he would not consider investing in China unless there is a leadership change and a shift away from its current communist policies. Instead, he’s turning his attention to Argentina and Japan, believing that the former has potential despite its economic volatility and seeing the latter as a country embracing capitalism and poised for growth.