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April Market Insights: Embracing a Multipolar World
The signing of the Peace of Westphalia in 1648 didn’t just end the Thirty Years’ War; it reshaped the global order. It established state sovereignty and balance-of-power principles that have governed international relations for centuries. As Hobbes insightfully noted, while conflict may be inherent in human nature, peace is achievable through mutual agreement among sovereign powers. Fast forward to today: the global order that emerged after the Second World War is crumbling. We are entering a multipolar era one fraught with complexities, contradictions, and opportunities.
