About the Book: In “How Countries Go Broke,” legendary investor Ray Dalio—known for anticipating major financial crises—shares his detailed, groundbreaking explanation of the “Big Debt Cycle” to address critical questions about the limits of government debt and the potential for a reserve currency country like the US to fail. Dalio argues that understanding this cycle is essential for policymakers and the public to grasp current debt issues in the US, Europe, Japan, and China, and points toward surprisingly straightforward solutions. He further connects these debt problems to the larger “Overall Big Cycle” changes in the world order, driven by political, geopolitical, natural, and most importantly, technological forces like AI, ultimately offering readers a framework for understanding and acting upon today’s global dynamics.