Russia and China are undertaking an unprecedented assault on the international order. Meanwhile, serious questions linger about America's willingness to exert leadership across Europe, Asia, and Latin America. Spain's former Secretary of State for Foreign Affairs Dr. Manuel Muñiz discusses why the war in Ukraine is likely to drag out for years and how it will accelerate a process of deglobalization. In his view, the world will divide across two main blocs, democracies and authoritarian states. The consequences of this tectonic transition will be considerable for countries, companies, and consumers. Yet, he believes in this scary scenario, there are still some reasons for optimism and new opportunities, if we are ready to seize them.