Ray Dalio names the top five forces shaping the global economy

SINGAPORE — U.S. billionaire Ray Dalio named the top five forces at the front and center of the world's economy. 

Speaking at the Milken Institute's Asia Summit in Singapore, the founder of Bridgewater Associates said the five factors are interrelated and often cyclical. Dalio made his remarks Wednesday ahead of the U.S. Federal Reserve's interest rate decision.

With uncertainty still circling around what the Fed will do at its meeting this week, Dalio raised concerns about how the country's debt will be managed.

"We're going to have a Fed interest rate change, and [what will] that whole dynamic do? What happens to all the debt? How will that be dealt with?" he mused. 

The U.S. central bank has kept benchmark rates at their highest level in 23 years, leading the government to allocate $1.049 trillion for debt service — an increase of 30% compared with a year ago. This is part of an anticipated total of $1.158 trillion in payments for the entire year.

"What is the value of it and as one man's debts or another man's assets? How is it as a storehold of wealth? These are important questions that are pressing questions," he threw the question out to attendees.

"The second is the issue of internal order and disorder," Dalio said, referring to U.S. politics ahead of the election.

"There are irreconcilable differences between the right and the left, prompted by large wealth and value gaps... and they call into question even the orderly transition of power," he added.

For the first time in the 2024 election cycle, Vice President Kamala Harris is now considered more likely to win than former President Donald Trump, a CNBC Fed Survey released Tuesday showed.

Last week, the candidates debated issues from abortion rights to tariffs and other