In his recently published book, “Principles for Dealing With the Changing World Order: Why Nations Succeed and Fail”, Ray Dalio analyzes the future of global economies in a more complicated and controversial world.
Mr Dalio, co-founder, co-chairman and co-CIO of alternative manager Bridgewater Associates LP, Westport, Connecticut, said in the book that the impetus behind his latest research was an awareness of the confluence of developments that had often occurred in history.
These developments were zero or near zero interest rates which led to massive debt creation and the printing of money; political and social conflicts within countries; and the rise of China, which challenges the position of the United States as the world’s leading power as well as the existing world order.
Mr. Dalio analyzed the rise and fall of the Dutch, American and British Empires over the past 500 years to provide a guide for a changing world.
âI knew that I wouldn’t be able to understand and navigate what’s going on today – let alone what might happen – without having a thorough understanding of the cause and effect relationships that are embedded in the patterns of the world. ‘history,’ Dalio said in a statement. Bridgewater, adding that he hopes his book will help people make better decisions “individually and collectively”.
Former US Treasury Secretary Larry Summers praised the book.
âHistory is too important to leave it 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 not, Dalio’s book is essential reading to understand our time. Harvard University President Emeritus and Charles W. Eliot Professor Summers said in the statement. Bridgewater manages $ 150 million in hedge funds and risk parity strategies.