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The end of November 2025 no longer looks like chaos, but like a systemic breakdown of the global order. In this issue, I pull together disparate news from Ukraine, the US, China, Iran, Nigeria, Brazil, and Southeast Asia, showing how the same week is turning into a map of global crisis.
We examine:
• the US-Russian "peace plan" for Ukraine, which The Economist calls a managed capitulation, and the Trump administration's external pressure;
• the Energoatom scandal, kickbacks, and the question: is the Ukrainian elite part of the solution or part of the problem;
• Trump's pivot to China: a visit to Beijing, the tech race, robotaxis, pharmaceuticals, and the hidden cost of the Chinese miracle for ordinary citizens;
• the Iranian gambit: inflation, crisis, the struggle between reformers and the IRGC, and an attempt to save the regime through new nuclear negotiations;
• rising tensions around Taiwan and Japan, Beijing's military rhetoric, and the race for defense budgets;
• the failure of the climate summit, catastrophic floods in Thailand, Indonesia, and Vietnam as a direct consequence of political impotence;
• Nigeria and the mass kidnapping of 303 schoolchildren as a symbol of state collapse;
• a nervous economy: NVIDIA loses $100 billion on a single rumor, Bitcoin falls 27%, markets turn into a field of panic and speculation.
The main question of the episode: are these just isolated crises—Ukraine, Iran, Nigeria, the markets—or are they symptoms of a larger disease, the collapse of the global order after World War II? Are we witnessing its death throes right now?
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