The Changing World Order by Ray Dalio is a historical study of the rise and fall of major global empires over the past 500 years, including the Dutch, British, and American, as well as China's rise and decline. Dalio identifies recurring patterns, or the 'Big Cycle' in these empires' financial and geopolitical histories, focusing on cycles of debt, internal conflict, and shifting global power. The book uses these historical patterns to offer principles and strategies for understanding the current global power shift and preparing for future economic and political changes.