The Changing World Order: Why Nations Succeed and Fail

In this book, Ray Dalio examines the cycles of rise and decline of major empires over the last 500 years, including the Dutch, British, and American empires.

He identifies key metrics such as education, inventiveness, competitiveness, economic output, military strength, and financial center strength to understand these cycles.

Dalio argues that these cycles, which he terms the 'Big Cycle,' are driven by timeless and universal forces.

He also discusses the current state of the world, particularly the rise of China and the decline of the US, and offers practical principles for navigating these changes.