By funding the war against Russia, Bretton Woods institutions, such as the World Bank and International Monetary Fund, undermine the rule of law as embodied in their charters. They have probably violated principles of economic impartiality, prudence and political non-interference.

NATO appears to be preparing to send troops to Ukraine, as the alliance believes it must defeat Russia at all costs. If it does intervene, it will create two major risks that could pull the world into an abyss: A conventional war could become a nuclear war, and a local war could become a world war.

The ongoing war in Ukraine stands as the paramount geopolitical clash of the 21st century, heralding a definitive return to realpolitik in global governance.

Judging from the current international mood, neither an armistice nor peace talks will likely come about this year, and the war will continue to drag on between Russia and Ukraine. At some point, it will become politically untenable in the West and financially unsustainable in Russia.

America’s actions that are directly detrimental to China’s interests render China’s cooperation in some regions irrelevant. The good news is that China and the U.S. have agreed to strengthen cooperation. But to ensure concrete results, the U.S. needs to do more.

Much can be gleaned from the text of the 10-year agreement, which was signed on Jan. 12 by British Prime Minister Rishi Sunak with Ukrainian President Volodymyr Zelenskyy during Sunak’s visit to Kyiv.

A stalemate on the Ukraine battlefield has settled in, and the U.S. is adjusting its strategy. The new idea is to preserve Ukraine’s territorial integrity while perfecting its war capacity. Instead, it should be isolating Russia politically and economically.

The war in Ukraine has provided the Biden administration with a chance to realize America’s geopolitical ambitions. Courting the nations of Central Asia could become a major Western success story. But it’s just as likely to end in catastrophe.

Russia’s suspension of the Black Sea Grain Initiative, which had allowed Ukrainian grain to reach the market, has exacerbated the food crisis facing the global South. While the conference excluded Russia, it provided an opportunity for China to step forward.

Frequent high-level contacts with China may be making a tactical difference for the United States. Tensions have eased slightly. However, the U.S. continues to pursue its broader strategy of containment. As elections approach, the Biden administration has little room to maneuver.