Dalio declares that the world has entered the sixth phase of the "Great Cycle": the post-1945 world order has disintegrated, power is now the norm, and conflicts among major powers will revert to primal power struggles. Trade wars, technology wars, and capital wars will become normalized and may escalate into military conflicts. The Munich Security Conference consensus confirms this judgment:
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Dalio declares that the world has entered the sixth phase of the "Great Cycle": the post-1945 world order has disintegrated, power is now the norm, and conflicts among major powers will revert to primal power struggles. Trade wars, technology wars, and capital wars will become normalized and may escalate into military conflicts. The Munich Security Conference consensus confirms this judgment: