Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail

Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail

by Ray Dalio
Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail

Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail

by Ray Dalio


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“A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Perhaps more unusually, Mr. Dalio has managed to identify metrics from that history that can be applied to understand today.” —Andrew Ross Sorkin, The New York Times

From legendary investor Ray Dalio, author of the #1 New York Times bestseller Principles, who has spent half a century studying global economies and markets, Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods to reveal why the times ahead will likely be radically different from those we’ve experienced in our lifetimes—and to offer practical advice on how to navigate them well.

A few years ago, Ray Dalio noticed a confluence of political and economic conditions he hadn’t encountered before. They included huge debts and zero or near-zero interest rates that led to massive printing of money in the world’s three major reserve currencies; big political and social conflicts within countries, especially the US, due to the largest wealth, political, and values disparities in more than 100 years; and the rising of a world power (China) to challenge the existing world power (US) and the existing world order. The last time that this confluence occurred was between 1930 and 1945. This realization sent Dalio on a search for the repeating patterns and cause/effect relationships underlying all major changes in wealth and power over the last 500 years.

In this remarkable and timely addition to his Principles series, Dalio brings readers along for his study of the major empires—including the Dutch, the British, and the American—putting into perspective the “Big Cycle” that has driven the successes and failures of all the world’s major countries throughout history. He reveals the timeless and universal forces behind these shifts and uses them to look into the future, offering practical principles for positioning oneself for what’s ahead.

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Product Details

ISBN-13: 9781982160272
Publisher: Avid Reader Press / Simon & Schuster
Publication date: 11/30/2021
Series: Principles
Pages: 576
Sales rank: 11,620
Product dimensions: 6.30(w) x 9.10(h) x 1.60(d)

About the Author

Ray Dalio is Founder, Co-CIO and Member of the Bridgewater Board, which, over the last forty years, has become the largest and best-performing hedge fund in the world. Dalio has appeared on the Time 100 list of the most influential people in the world as well as the Bloomberg Markets list of the 50 most influential people. He is also #1 New York Times bestselling author of Principles, Principles for Navigating Big Debt Crises, and Principles for Dealing with the Changing World Order. He lives with his family in Connecticut.

Table of Contents

Part I How the World Works 21

Introduction 1

1 The Big Cycle in a Tiny Nutshell 23

2 The Determinants 57

Determinants Addendum 81

3 The Big Cycle of Money, Credit, Debt, and Economic Activity 103

4 The Changing Value of Money 131

5 The Big Cycle of internal Order and Disorder 149

6 The Big Cycle of External Order and Disorder 193

7 Investing in Light of the Big Cycle 217

Part II How the World has Worked Over the Last 500 Years 241

8 The Last 500 Years in a Tiny Nutshell 243

9 The Big Cycle Rise and Decline of the Dutch Empire and the Guilder 245

10 The Big Cycle Rise and Decline of the British Empire and the Pound 291

11 The Big Cycle Rise and Decline of the United States and the Dollar 331

12 The Big Cycle Rise of China and the Renminbi 363

13 US-China Relations and Wars 423

Part III The Future 461

14 The Future 463

Appendix: Computer Analysis of the Conditions of, and Prospects for, the World's Leading Countries 513

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