Well before the Russian invasion of Ukraine, it had become fashionable to speak of a new era of great power competition. The prospect of an open-ended and unstable confrontation with Moscow, together with the steady rise of China as a peer competitor in the Indo-Pacific, presents NATO with a new set of strategic challenges. How will NATO allies balance potentially competing geopolitical and operational demands in this environment? How will regional security be affected? What are the implications for crisis management and alliance partnerships? How can allies hedge against emerging risks in an uncertain, multipolar environment?

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