Updated with a correction.
Bridgewater manages $150 billion in hedge fund and risk-parity strategies.
In his just released 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, contentious world.
Mr. Dalio, co-founder, co-chairman and co-CIO of alternative manager Bridgewater Associates LP , Westport, Conn., said in the book that the impetus behind his latest research was a realization of the confluence of developments that had occurred often in history.
These developments were zero or near-zero interest rates that led to massive debt creation and printing of money; political and social conflicts within countries; and the rise of China, which challenges the United States' position as the world's largest power as well as the existing world order.
Mr. Dalio analyzed the rise and fall of Dutch, American and British empires in the past 500 years to provide a guide for a changing world.
"I knew that I wouldn't be able to understand and navigate what's happening today — much less what may come — without having a deep understanding of the cause-effect relationships that are embedded in patterns of history," Mr. Dalio said in a Bridgewater news release, adding that he hopes his book will help people make better decisions "individually and collectively."
Former U.S. Treasury Secretary Larry Summers had praise for the book.
"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," said Mr. Summers, president emeritus and the Charles W. Eliot Professor of Harvard University, in the release. Bridgewater manages $150 billion in hedge fund and risk-parity strategies.