Principles of dealing with the changing global system

From legendary investor Ray Dalio, author of the international bestseller Principles, who has spent half a century studying global economies and markets, Principles for a Changing World Order examines the most turbulent economic and political period in history to reveal why the times ahead will be radically different from those we have experienced in our lifetimes—but similar to those that have happened many times before.

A few years ago, Ray Dalio observed a confluence of political and economic conditions he had never encountered before. These conditions included massive debt and zero or near-zero interest rates, which led to the printing of vast amounts of money in the world's three major reserve currencies; significant political and social conflicts within countries, especially the United States, over the greatest disparity in wealth, politics, and values ​​in over 100 years; and the rise of a global power (China) to challenge the incumbent global power (the United States) and the existing world order. The last time this confluence occurred was between 1930 and 1945. This realization led Dalio to search for recurring patterns and cause-and-effect relationships that underlie all major changes in wealth and power over the past 500 years. In this fascinating and timely addition to his Principles series, Dalio takes readers on a study of major empires—including the Dutch, British, and American—putting into perspective the "great cycle" that has driven the successes and failures of all the world's major nations throughout history. Dalio reveals the timeless, universal forces behind these transformations and uses them to look to the future, offering practical principles for positioning yourself for what's next.