Ray Dalio has been publishing a series of detailed articles on The Changing World Order. The most recent parts are The Big Cycle of the US and the Dollar, Parts 1 and 2.
The most recent part, Chapter 4: The Big Cycle of the United States and the Dollar, part 2, was published today and begins as follows:
The New World Order from 1945 until Now
As is typical after wars, World War II’s winning powers—most importantly the US, Britain, and the Soviet Union (then called “the Big Three”)—led meetings to create the new world order, which included carving up the world into geographic areas of control and establishing new money and credit systems. While France, China, and a couple of other countries were technically aligned with these winning countries, they were lesser players. And with Germany, Japan, and Italy defeated and broken by the war, they were neither leading nor independent powers; they were subordinate to and aligned with the US. Britain, which was essentially bankrupt, was also aligned with the US. The Soviet Union was the leading rival power that was not aligned with the US, so it formed its own camp with its own allies. While there was relatively good cooperation between the two camps immediately after the war, it didn’t take long for the world to become divided between the US-led capitalist/democratic camp and the Soviet-controlled communist/autocratic camp, each with its own monetary/economic systems, though there were a small number of less significant countries that were non-aligned.
See all of the parts at the following links:
- Introduction: The Changing World Order (Mar. 25, 2020)
- Chapter 1: the Big Picture in a Tiny Nutshell (April 2, 2020).
- Chapter 2: Money, Credit, Debt and Economic Activity (April 23, 2020).
- Chapter 2 Appendix: The Changing Value of Money (May 7, 2020).
- The Big Cycles Over the Last 500 Years (May 21, 2020).
- Chapter 4 Part 1: The Big Cycle of the US and the Dollar Part 1.
- Chapter 4 Part 2: The Big Cycle of the US and the Dollar Part 2.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.
