Advice for a Changing World Order

The global economy is amid a recession that has been with us for some time now. The world's economy and the political playing field are changing fast. Brazil, Russia, India, China, and South Africa are the five main emerging economies that make up the term BRICS. The BRICS nations are well known for having a big impact on global politics and trade. The USA, one of the main drivers of our global economy, is also experiencing a slowdown in growth as well. While Russia continues its operation in Ukraine and the latest events, we witnessed in Taiwan… No one is to tell what is to come.?

Economic recessions are on the rise. They are a natural part of the economy’s cycle and they always come with a lot of pain, but they don't last forever. The trick to surviving a recession is to know what will keep you going in hard times. Reading Ray Dalio’s “Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail”, is a tremendous help for anyone who wants a macro view on what is happening today. In this opinion piece, I tried to sum up some thoughts that have been with me since the first lockdowns, when we all saw that things are about to change, drastically. Mostly, I will try to convey tips that I think will come in heady for smoother sailing in the turbulent waters we are about to enter.?

The first thing you need to do is focus on your goals and not let your fears get in the way. If all you can think about is how bad everything is going to be, then you'll never be able to move forward with anything. These goals may be ones that lead you to thrive or to survive. Depending on each situation, either you will aim to become a prepper, anticipate big destructive events, or look to achieve goals that are on the lighter side of things, such as mastering new skills to survive in the coming new world order. When dealing with hard times, it's important that you have a plan in place for getting through them. This plan should include some sort of income source, whether it's from an actual job or something else, such as doing freelance work online. A new technical skill, such as copywriting, web development or basically anything that just needs a laptop and Wi-Fi, will increase your chances to survive and even thrive. You also need to learn how to budget your money so that you can make sure that your expenses are covered while still having enough left over for savings and rainy-day funds for emergencies like car repairs or job loss.

If possible, try not to rely too much on credit cards when times get tough because if there's an economic downturn then chances are those companies won't be able to pay their bills as easily so eventually all of them will go bankrupt and leave you stuck with nothing but debt. Save the cash for investment. It is said that wealth is created in bear markets. Whether it is stocks, crypto, or something else, make sure to have cash on hand to invest when prices hit an all-time low. It's no wonder that many people are wondering how to survive economic hard times. Unfortunately, there isn't a single solution to this problem because each person will have their own unique circumstances and needs when it comes to surviving financially during these difficult times. However, never forget that “Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.”

It's been predicted that the effects of a coming American recession on the world will be bad. Politically, it will mean countries start to question alliances and make new policies for themselves. Economically, it means more problems for us in the Middle East because oil is our main export source. What does it mean for us as an individual? We are likely to find ourselves with less money and more stress. What is the best way to prepare if you see these changes occurring? This is the question that I am trying to answer.

To survive a changing world order, we need to be flexible and adapt to what comes next. We may have to rethink our perceptions about the convenience of living the lives we do. We need to redefine our place in the world, make changes if necessary and learn to communicate effectively with our children and colleagues.

And just as we must adjust to changes in technology and society around us, we must change ourselves internally by opening ourselves up to ourselves first, learning new skills, and exploring new areas of interest so that we can create a sense of meaning in our lives again and support those whom we love.?