Changing World Order: Why Nations Succeed or Fail - Hardcover
By Ray Dalio

From the international bestselling author ofand Principlesand and legendary investor Ray Dalio, who has spent half a century studying global markets,and The Changing World Orderand 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.A few years ago, renowned investor Ray Dalio began noticing a confluence of political and economic conditions he hadn't encountered before in his fifty-year career. They included large debts and zero or near-zero interest rates in the world's three major reserve currencies; significant wealth, political and values divisions within countries; and emerging conflict between a rising world power (China) and the existing one (US).Seeking to explain the cause-effect relationships behind these conditions, he began a study of analogous historical times and discovered that such combinations of conditions were characteristic of periods of transition, such as the years between 1930 and 1945, in which wealth and power shifted in ways that reshaped the world order. Looking back across five hundred years of history and nine major empires - including the Dutch, the British and the American -and The Changing World Orderand puts into perspective the cycles and forces that have driven the successes and failures of all the world's major countries throughout history.Dalioreveals the timeless and universal dynamics that were behind these shifts, while also offering practical principles for policymakers, business leaders, investors and others operating in this environment.