The Changing World Order

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.

Review

“The book is a provocative read for those of us questioning where in the arc of history the American Empire resides and what may happen to the economy next. 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 “Dalio’s impressive book . . . has, if not changed my mind, then at least massively shifted the needle on how I see cycle theories. . . . Dalio avoids most of the traps associated with cycle theories. The Changing World Order is jam-packed with charts, showing long-run changes in major countries, often reaching back centuries. . . . He manages to do what many successful investors writing books about their investment lens fail at: delivering something new and interesting without giving away precisely the secret sauce that fueled his success.” —Joakim Book, American Institute for Economic Research “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 U.S. and China today.” —Graham Allison, Douglas Dillon Professor of Government at Harvard University and 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 “A super provocative, super important must-read. It lines up a lot of facts to create a scary picture that’s hard to refute.” —Bill Gates