Key Takeaways

The world is rapidly shifting into a high-stakes multipolar game where power is spread across multiple players, not just the U.S. With rising tensions, unpredictable alliances, and military build-ups, the global stage is more uncertain than ever. Meanwhile, Europe and emerging powers are smartly diversifying their strategies to stay ahead in this complex new era.

 

  • Geopolitical multipolarity is set to persist, with heightened risks of miscalculation, shifting alliances, and military build-ups driving uncertainty and security risks.

  • The US is using tariffs to pursue foreign policy goals, but it remains constrained. It is also waking up to its dependence on China’s rare earths, while Russia, broadly self-reliant, has ignored Trump’s demands to end the war. These dynamics highlight the limits of US leverage in a multipolar world.

  • Europe and emerging powers are recalibrating their positions, reinforcing the trend toward ‘The Great Diversification’ across trade, security, and resources.

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Multipolar world in action

Read the full article on the Amundi Research center