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21 June 2024

The World of Balance

George Friedman

The international system is always changing. It usually shifts one piece at a time, each one constrained by the system to dampen its impact – and thus maintain balance and stability. Many years ago, for example, when China entered a period of breakneck economic growth, it did so without the U.S. investment and trade needed to stabilize the global impact of its rise. Yet the international system as a whole remained balanced. The world is designed to manage singular and limited shifts, as evidenced by the decades it took to create something as intricate as the European Union. It is much less comfortable managing relatively sudden and widespread shifts – which is exactly what is happening now.

On the borders of Russia, President Vladimir Putin has submitted a peace proposal, which is essentially an acceptance of the fact that Russia does not have the power to retake all of Ukraine and would settle for minor concessions. This is, in itself, notable. Before the war, Russia was widely thought to have reclaimed much of the military and political power it lost in the fall of the Soviet Union. Putin’s proposal confirms that Russia’s recovery was an illusion and, in doing so, tacitly informs other nations that they ought to reconsider their Russia strategies accordingly.

Meanwhile, the European Union is in disarray. The EU helped stabilize a region given to war by embracing common liberal ideologies while discarding its imperial power and aligning with the United States. This system has been compromised by national interests, some of which run counter to the liberal ideals on which the bloc was founded. Recent elections in Europe, which resulted in the success of many right-wing candidates, call into question the ideals of the past and threaten to give way to a new Europe. How this process plays out will change Europe’s relationship with both the United States and Russia.

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