Eurasia Group Top Risks 2026

The year 2026 marks significant geopolitical instability, driven by an unpredictable U.S. political shift and ongoing global conflicts. While some nations, like China and India, bolster their positions, Europe faces heightened challenges. An AI revolution is also underway, complicating governance. The global landscape is turbulent, with lasting implications for future generations.

Venezuela’s Strategic Role in Global Conflicts.

The power of weapons is evident. A country that spends nearly $200 billion annually on defense, invests around $200 million daily, and, at least in theoretical terms, has the best army in the world, should be able to impose its will. Both the United States and Russia boast cutting-edge armed forces, but recent experience has shown that theoretical superiority does not guarantee victory.

Maduro Has Fallen. What’s Next?

With Nicolás Maduro’s forced removal from Venezuela, a new historical stage begins in the relationship between the United States and Latin America. As Marco Rubio said at the press conference on the same day as the military action in Caracas, “those who did not believe we would act, take note: we did act, and we are serious.

The Aftermath of the Berlin Wall—and Mexico’s Missing Lesson.

The fall of the Berlin Wall in 1989 allowed Eastern European nations to reshape their political and economic landscapes. While countries like Poland thrived under effective leadership, Mexico’s current government, lacking opposition and relying on flawed policies, is likely headed for stagnation. This raises concerns about the sustainability of its strategies.

Mexico’s Espionage Crisis: The Unseen Consequences.

The Mexican Foreign Ministry disclosed a confidential list of 14 countries with security personnel in Mexico, revealing a potential weakness in diplomatic relations. Notably absent are nations like Russia, Cuba, and Venezuela, prompting questions about Mexico’s transparency and complicity in espionage. This situation undermines Mexico’s credibility and complicates future foreign negotiations.

The Complex Nature of Democracy: Insights and Quotes

Democracy is a complex concept that varies in interpretation, providing a framework for governance and legitimacy in society. Mexico’s current Morena government has approached democracy in a literal sense, raising concerns about its procedural integrity and the representation of public preferences. The quality of democracy in Latin America remains critically at stake.

2025: A Year to Remember.

The end of the year reflects a challenging global climate, with wars and economic instability. Trump’s administration has shifted power dynamics in the U.S., sidelining traditional political structures. The upcoming USMCA renegotiation will be crucial for regional economic stability, as issues of leadership ineptitude underline a deeper crisis in democracy and governance.

If Maduro Falls, Cuba Will Follow.

Cuban President Díaz-Canel warned of an impending economic crisis, linking it to the US Navy’s seizure of a Venezuelan oil tanker. The two nations share a deeply asymmetrical interdependence; Cuba relies on Venezuela for oil and financial support, while Venezuela benefits from Cuba’s professional services. The anticipated collapse of Maduro could also threaten Cuba’s stability, hinting at a potential political upheaval in the region.

My Readings in 2025.

In times of upheaval, many books emerge addressing significant geopolitical and historical themes. Noteworthy titles include Hal Brands’ exploration of Eurasian geopolitics and Claudio Lomnitz’s analysis of Mexico’s dual realities. Robert Kaplan’s pessimistic insights mirror the Weimar Republic, highlighting the fragility of democracy, while Timothy W. Ryback details Hitler’s rise without popular support.

The Role of Foreign Intervention in Latin America: A Dilemma for Democracies.

Venezuela’s political turmoil raises questions about interventionism versus national sovereignty. María Corina Machado faces criticism for supporting US measures against Maduro, seen by some as a new colonialism. Supporters argue Maduro’s regime is illegitimate, backed by external powers. A democratic alternative is essential to prevent dictatorship and foreign invasions in Latin America.

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