In "WHEN MARKETS COLLIDE," Mohamed El-Erian highlights the significant changes in the global economic and financial systems and urges investors to pay attention to key signals. He explains how asset mispricings are crucial indicators of opportunities and risks that will impact the market for years. El-Erian discusses the shifts in the world economy, emphasizing the increasing influence of former debtor nations and the impact of new derivative products on market behavior. He stresses the importance of adapting investment strategies to reflect the evolving economic landscape, including diversification, internationalization, and protection against systemic risks. By analyzing global drivers of change, El-Erian offers insights on navigating central bank policies and emerging risks. The book aims to help investors and policymakers capitalize on new economic opportunities while managing potential risks in an ever-changing financial environment.