# Big Cycle

The Fog of Macro-War: Ray Dalio’s Dark Prognosis for the Global Order

Bridgewater founder Ray Dalio warns that the global order has entered the early stages of a systemic conflict analogous to the lead-ups of World War I and II. He predicts a greater than 50% chance of a major multi-regional war within five years, driven by U.S. overextension and the formation of a resilient China-Russia-Iran axis.