Dalio’s All Weather portfolio framework: construction should balance across four economic environments — rising growth, falling growth, rising inflation, falling inflation — rather than assuming any single regime. In the macro cycle context, this means knowing which environment each macro phase (empire rise/decline, debt cycle stage) is most associated with, then holding assets that outperform that environment. Geographic diversification across major economic blocs (JPN, CHN, USA, EUR) reduces single-country political risk but requires understanding each country’s cycle phase independently.