Contributor(s): Professor Barry Buzan, Dr Elizabeth Ingleson, Professor Vladislav Zubok | When Soviet power collapsed between 1989 and 1991, the overwhelming view in the West was that liberalism had triumphed. The world could look forward to a period of peace and prosperity, underpinned by globalisation backed by American power. Today all of that early optimism has faded, to be replaced by a deep fear that the world is once again dividing into two camps very much like the Cold War of old.