Publications

Ray Dalio - CIO of Bridgewater Associates - identifies five long term forces shaping societies and markets, all marked by rising volatility. He notes how growing risk in one area can trigger instability in others.

Debt levels and servicing costs are climbing globally, raising concerns about how power shifts as the global asset/liability balance tilts. Political polarisation is widening, with an entrenched left–right divide and a growing refusal to compromise. The global order appears less stable as established norms erode, and new alliances form amid heightened geopolitical tension. Natural events, especially severe weather, are increasing in frequency and impact. Meanwhile, technology, driven above all by rapid advances in AI, is accelerating faster than institutions can adapt.