From legendary investor Ray Dalio, author of the #1 *New York Times* bestseller *Principles*, *Principles for Dealing with the Changing World Order* offers a deep exploration of history’s most turbulent economic and political periods. Drawing on half a century of studying global economies and markets, Dalio examines the forces that shape the rise and fall of major nations and provides insights on why the future will likely be radically different from what we have experienced in our lifetimes.
A few years ago, Dalio observed a confluence of political and economic conditions unlike anything he had encountered before. These included massive debts and near-zero interest rates that spurred large-scale money printing in the world’s three major reserve currencies, escalating political and social conflicts within countries—particularly in the U.S.—due to historic wealth and values disparities, and the rise of China as a global power challenging the existing world order. The last time such conditions aligned was between 1930 and 1945. This realization led Dalio to search for repeating historical patterns and the underlying cause-and-effect relationships that have influenced shifts in wealth and power over the past 500 years.
In this thought-provoking addition to his *Principles* series, Dalio guides readers through his study of the major empires, including the Dutch, British, and American, to reveal the “Big Cycle” that has shaped the successes and declines of the world’s most influential nations. By identifying the timeless and universal forces driving these shifts, he offers a framework for understanding the present and anticipating the future. Through historical analysis and practical principles, Dalio equips readers with the knowledge needed to navigate the challenges and opportunities ahead.
