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Principles for Dealing with the Changing World Order

Why Nations Succeed or Fail

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From legendary investor Ray Dalio, author of the international 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 - but similar to those that have happened many times before.

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 realisation 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.

Dalio 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.

Ray Dalio is the founder and cochairman of Bridgewater Associates, 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 the author of Principles, Big Debt Crisis, and Principles for Dealing with the Changing World Order. He lives with his family in Connecticut.

  • Publisher: Simon & Schuster UK (November 30, 2021)
  • Length: 576 pages
  • ISBN13: 9781471196690

'Ray Dalio has a special talent for identifying the key questions of our time. In this sweeping new book, he marshals a variety of economic, social and political measures to trace the rise and decline of nations. It is a serious contribution - and an urgent warning to the West.'

– Henry Kissinger

'An audacious, practical guide to the rise and fall of empires over the last five hundred years of history - with important lessons for the US and China today.'

– Graham Allison, author of Destined for War

'Ray Dalio has a unique talent for making important and complex issues simple. I was riveted by his descriptions of the cause/effect relationships that drove the last five hundred years of history and how they provide practical guidance for dealing with what is happening now. This may well be the most important book of the year if not the decade. A must-read.'

– Arianna Huffington

'When Ray Dalio talks, I listen. His new book is remarkable in its scope - shedding new light on the biggest reasons nations win in the global economic and political arenas, and applying it to China and the US today. After reading this book, you probably won’t see the world the same again.'

– Henry Paulson, former US Secretary of the Treasury

'History is too important to leave to historians. Only Ray Dalio would have the brilliant audacity to attempt such a synthesis of the financial, economic and political history of the world. Agree or disagree, Dalio’s book is essential reading to understand our times.'

– Lawrence Summers, former US Secretary of the Treasury

'How do we learn from history so that we don’t repeat the same mistakes that have led to the downfall of nations? By reading Ray’s book Principles for Dealing with the Changing World Order. Ray shows us how history can provide a template to help guide how we might think about what comes next. And for those of us who might shudder at reading 576 pages, he provides an ingenious highlighted path that makes the book a shockingly easy, yet comprehensive, read.'

– Mark Cuban

'Ray does an astounding job of giving us an inspiring and thought-provoking experience by looking at the rises and declines of empires, showing how economics, culture, military prowess, innovation, inequality and other elements interact. He leaves us with an improved perspective for thinking about very vexing issues such as the state of America versus China.'

– Jamie Dimon, CEO of JPMorgan Chase

More books from this author: Ray Dalio