It’s Official: The World Order Has Broken Down

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By -- Ray Dalio—— Bio and Archives--February 16, 2026

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At the Munich Security Conference, the post-1945 world order was pronounced dead by most leaders and the picture behind it was laid out in the Security Report 2026, entitled “Under Destruction,” which you can read here if you're interested. More specifically, German Chancellor Friedrich Merz said, “The world order as it has stood for decades no longer exists,” and that we are in a period “great power politics.” He made clear that freedom “is no longer a given” in this new era. French President Emmanuel Macron echoed Merz’s assessment and said that Europe’s old security structures tied to the previous world order don't exist and that Europe must prepare for war. U.S. Secretary of State Marco Rubio said that we are in a “new geopolitics era” because the “old world” is gone.
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