Bridgewater Associates’ Ray Dalio on stage at CNBC Converge Live in March.
CNBC kindness
Billionaire Ray Dalio says we live in a time of fast change, as geopolitical tensions are growing, changing economic systems and technology develops faster than ever before.
While people struggle with what he called “Change of world order“Dalio says it’s important to focus on what really matters.
“I think the question is, first of all … how will we be with each other,” said Bridgewater Associate founder. “Because, breakup technologies – they can be used for wars, they will create a great displacement of people.”
How will people deal with each other “especially important” in the next five to 10 years, Dalili added.
Regardless of the success in life, he was more for my meditation than anything else.
Ray Dalio
Founder, Bridgewater Associates
“The best advice I could give to anyone, I think, would be meditating, which is because it gives you calmness and indifference. It gives you a sense of spirituality, which means … [a] Connection with space, connection with people, “he said.
“Regardless of the success I have had in my life, he was more for my meditation than anything else.”
5 forces that change the world
Dalio identified five main forces that change the world order: Government debt, populism, conflict, climate and technology.
As for the debt, he said: “There is a large cycle of increasing debt than revenues … which will lead to a major change in the monetary order we are now facing,” he said.
He gave it before warned about the American mountain debt – Now standing with more than $ 36.2 trillion. He says this problem is “of the greatest importance” and the US deficit must go from the projected 7.2% of the gross domestic product at about 3% of GDP.
Dalio also dealt with the increase in populism in the west.
“He has left and right … There are a point where there are irreconcilable differences in connection with money and values,” Dalio told CNBC Sara Eisen on Wednesday on Wednesday on Wednesday Converge live in Singapore.
The third force is a variable geopolitical order, he said, which answers questions such as: “What are the rules of the world? How do countries communicate? And who determines it?”
“This is determined by the winners of the last war. They have set the rules … but there is a change in the world order because the growing forces cause existing declining powers. And so we see this change in the world order, from the one that is unilaterally, to a large extent controlled the United States, something that is very different,” he said.
The fourth force is the climate and work of nature, which throughout history has had a greater impact and killed more people than wars, Dalio said. Finally, the fifth force is a new technology, or as it describes the “man’s inventiveness”, which we see today with an increase in AI and other emerging technologies.
“Now we are in this transition to the new orders of all of them,” he said.
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