Islamabad Paper on “New Cold War between Major Powers: Implications for Global Peace and Stability”

Abstract

This paper argues that the world is heading towards another era of ‘great power politics’, where United States, Russia and China will compete for hegemony and influence. The era of unipolarity is over and policymakers in Washington have realised that current global order is changing, which has compelled American policymakers to make tough choices sometimes compromising its core interests. The argument proceeds as follows. First, arguing that the United States is an empire in decline; its broad coalition is under threat, while complex societal changes are underway. Second, there also exists issue of multiple intelligence failures which severely hampered projection of American power. Third, the waning US power also faces threat from resurgent Russia and silently progressing China, as both have expanded their economies and achieved exponential military modernisation. The core objective of this paper is to highlight the emerging Cold War between US, Russia and China and assess how the power transition might unfold implicating global peace and stability

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