Nostalgic for Cold War realism

Russia's full-scale invasion of Ukraine confirmed that revived great-power competition has heightened the prospect of global conflict, while restoring the concept of deterrence to centre stage. The stakes in a conflict in East Asia, however, would be even higher than those in Ukraine. A war over Taiwan could bring the United States and China, the world's two greatest powers, into a direct military conflict which would represent a contest for regional or global leadership and would be likely to draw other powers into the fight. Such a war – in which the nuclear question would be ever-present – can currently be described as 'possible, avoidable, but potentially catastrophic'.