Ray Dalio: "In 1945, the United States controlled 80% of the world's currencies. At that time, gold was the currency. The US had half of the world's GDP. It monopolized military power. Therefore, the US set the world order."

He warns: The world order is undergoing a massive transformation, and the three major cycles of history are simultaneously reaching their peaks:

Debt and monetary expansion: Massive debt forces central banks to print money wildly, leading to currency devaluation and inflation crises.

Internal conflicts and populism: The widening wealth gap and value clashes lead to political extremism and a loss of societal compromise space.

Great power rivalry and succession: The US's dominant position is weakening, challengers are rising; conflicts are gradually escalating along the "trade-technology-geopolitics-economics-military" pattern.

Underlying logic: The old order initiated in 1945 has reached a critical point, and we are in the eye of the storm of the transition between the old and the new.