
The EI Podcast The instability of a multipolar era
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Dec 29, 2025 Helen Thompson, Professor of Political Economy at the University of Cambridge, dives into the dynamic landscape of global geopolitics. She explores the US–China rivalry and the rising significance of the Western Hemisphere. Thompson highlights how energy shifts since 2005 have led to instability in a multipolar world. She discusses US strategies in Latin America, the economic interdependence that fuels tensions, and the implications of climate change as a national security crisis. Lastly, she emphasizes the need for strong leadership and systemic thinking in navigating these challenges.
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Multipolarity And The End Of An Energy Era
- Global order has been breaking down since around 2005, driven by multipolarity and an end to a low-oil-price energy era.
- China's rise and Russia's underestimated energy role combined to create long-term geopolitical instability.
US Resurgence Deepens US–Europe Divergence
- The US regained economic strength after 2008 via shale and financial dominance, creating divergence with Europe.
- Europe became a battleground for US–Russia geo-economic competition, especially over energy markets.
Western Hemisphere Returns To Strategic Forefront
- The Western Hemisphere is rising as a strategic theatre because the US historically secures continental influence and new resources are there.
- Latin America matters for oil, lithium and geopolitical competition with China.

