Ukraine, the Caucasus and the Middle East. The latest eruptions of violence mark the end of Pax Americana
. The rise of new powers is shifting the global balance of power. Whether tomorrow’s world will be bipolar or multipolar still remains to be seen.
When tectonic plates shift, the earth shakes. Tsunamis race around the globe in the form of shock waves. The global economy has experienced three such earthquakes in recent years. The Covid-19 pandemic has made us aware of the vulnerability of a globally integrated economy.
With the invasion of Ukraine, Russia effectively destroyed the European peace order. Now, Europe needs to find ways to contain its aggressive neighbour, while its traditional protector, the United States, continues its shift of focus to the Indo-Pacific.