Cómo quiebran los países : El gran ciclo de la deuda

Are there limits to debt growth? Do large public debts threaten our collective well-being? Can a country like the United States, with such a vital reserve currency, go bankrupt? Politicians, public officials, and investors have been debating these questions for decades, without finding the answers. In this groundbreaking book, Ray Dalio, one of the most influential investors of our time, who foresaw the 2008 global financial crisis and the 2010-2012 European debt crisis, shares for the first time his detailed explanation of what he calls "the long debt cycle." Understanding this cycle is vital to helping policymakers, investors, and the general public understand where we are and where we are headed regarding debt. Dalio's model points to surprisingly straightforward solutions for dealing with the debt problems facing the United States, Europe, Japan, and China today. How countries fail also shows how these difficulties relate to other forces—political forces within each country, geopolitical forces between countries, natural forces (droughts, floods, and pandemics), and technological forces (especially AI)—which, together, are causing what Dalio calls "long-term general cycle" changes in the world order. By reading this book, you will better understand what is happening and what to do about it.