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The Forecast Desk · Research market

The Map of American Power

A strategy room table with alliance pins, naval routes, satellites, and hands moving pieces across a world map.
through 2030, with structural notes to 2035 35 priced outcomes The Modern World
OpenThe Modern Worldthrough 2030, with structural notes to 2035
55–65%

Most likely outcome

D1 Dollar: Gradual Erosion (Modal)

The US geopolitical position in 2026: grand strategy, alliances, and trajectory

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01The Outcomes — 35 scenarios, priced by the research

D1 Dollar: Gradual Erosion (Modal)55–65%

USD share of reserves continues to slide ~0.5pp/year; reaches ~52-55% by 2030; trade invoicing share sticky; no rival currency close to substitution.

Drivers

  • Sanctions-driven diversification
  • Non-traditional currency growth
  • PRC slow-walk CIPS

Signals to watch

  • Quarterly COFER
  • Saudi pricing decisions
Horizon · 2026-2030
I1 Iran: Weakened-Persistent (Modal)50–60%

Iran weakened by June 2025 strikes and proxy attrition but regime persists; nuclear program partially set back; continued covert competition.

Drivers

  • Iran-IRGC institutional resilience
  • Regional proxy capacity
  • Inability to fully verify nuclear setback

Signals to watch

  • IAEA reports
  • Proxy activity in Iraq/Syria/Yemen
  • Iran economic indicators
Horizon · 2026-2030
E1 Decoupling: Managed Bifurcation (Modal)50–60%

Export controls + outbound investment screening + tariffs continue at current pace; PRC builds parallel supply chains slowly; world economy bifurcates in tech but not finance.

Drivers

  • Bipartisan US China hawkishness
  • PRC self-sufficiency push
  • European hedging

Signals to watch

  • Entity List additions
  • PRC chip self-sufficiency
  • EU position
Horizon · through 2030
L2 Hemisphere: Muddle (Modal)45–55%

Rhetoric persists; kinetic action limited to interdiction and targeted strikes; no major land operation; partial scaling-back after political resistance.

Drivers

  • Congressional resistance
  • Coalition partner concerns
  • Cost

Signals to watch

  • Congressional AUMF votes
  • Mexican relations
  • Casualty levels
Horizon · 2026-2030
A1 Alliances: Indo-Pacific Deepens, NATO Strains But Holds (Modal)45–55%

Quad/AUKUS/Camp David deepen; NATO bumpy but persists; European autonomy grows at margin.

Drivers

  • China pressure on Indo-Pacific allies
  • European fatigue
  • US Asia-first signal

Signals to watch

  • Alliance summit outcomes
  • European defense spending
Horizon · through 2030
U1 Ukraine: Frozen Conflict (Modal)40–55%

Conflict freezes along current lines; Russia retains territorial gains, Ukraine receives security guarantees short of NATO membership; sanctions ratchet partially relaxed.

Drivers

  • Russian wartime economy attrition
  • Ukrainian manpower constraint
  • US-Europe aid trajectory

Signals to watch

  • Frontline stability
  • US aid bills
  • Russian economic indicators
Horizon · 2026-2027
W2 World: Muddle (Modal)40–50%

Sino-American structural rivalry without kinetic war; gradual dollar erosion; Indo-Pacific deepens; European architecture strains but holds; Latin America posture hardens then partially walks back; no single major crisis dominates.

Drivers

  • Multiple modal scenarios coincide

Signals to watch

  • The cluster of modal-scenario signals
Horizon · through 2030
T2 Taiwan: Sustained Coercion (Modal)35–45%

PRC runs sustained gray-zone campaign — quarantine-light, ADIZ violations, cyber, economic coercion — without crossing kinetic threshold. US-Taiwan response stays below war.

Drivers

  • PLA modernization continuing
  • Xi political incentives
  • US deterrence credibility

Signals to watch

  • Frequency and scale of PLA exercises
  • Taiwan economic disruption
  • US-Japan-Philippines crisis-management
Horizon · 2026-2030
T1 Taiwan: Status Quo / Deterrence Holds25–35%

Cross-Strait status quo persists; PLA activity remains exercises and gray-zone short of major escalation; US-Japan-Philippines deterrence credibly holds.

Drivers

  • US Indo-Pacific buildup
  • Japan counterstrike capability
  • PRC economic constraints
  • Beckley-Brands danger-zone window holds

Signals to watch

  • PLA Navy operational tempo
  • Taiwan election dynamics
  • AUKUS submarine schedule
Horizon · through 2030
U2 Ukraine: Negotiated Armistice with Concessions20–30%

Formal armistice with Ukrainian territorial concessions; structured peace process; eventual sanctions relaxation tied to Russian behavior.

Drivers

  • Trump II negotiation pressure
  • European fatigue
  • Russian elite calculations

Signals to watch

  • Track-2 diplomacy
  • European positions
  • Russian elite signals
Horizon · 2026-2027
L1 Hemisphere: Sustained Monroe Doctrine Revival20–30%

Trump II posture persists past 2028; expanded deployments; Venezuela regime change consolidated; cartel campaign continues; PRC investment displaced.

Drivers

  • Bipartisan support for hemispheric framing
  • Cartel/fentanyl politics
  • China-displacement logic

Signals to watch

  • Midterm outcomes
  • Mexican cooperation
  • Operation Southern Spear evolution
Horizon · 2026-2030
E2 Decoupling: Sharper Bifurcation20–30%

Major trigger (Taiwan crisis, AI breakout, sanctions retaliation) accelerates decoupling; finance and capital markets begin to fragment.

Drivers

  • Specific crisis trigger
  • Allied alignment

Signals to watch

  • Allied positions
  • PRC retaliation against US firms
Horizon · 2027-2030
A2 Alliances: Transatlantic Drift Accelerates20–30%

European strategic autonomy accelerates; transatlantic split widens; NATO weakens.

Drivers

  • Trump II tariff/burden pressure
  • EU integration
  • Russia question

Signals to watch

  • EU defense union progress
  • Article 5 testing
Horizon · 2026-2030
I2 Iran: Regional War15–25%

Major US-Israel-Iran kinetic exchange beyond June 2025 strikes; regional spillover.

Drivers

  • Iranian nuclear restoration attempts
  • Israeli preventive logic
  • Proxy escalation

Signals to watch

  • IAEA findings
  • Israeli posture
  • US carrier presence
Horizon · 2026-2028
L3 Hemisphere: Pullback15–25%

Political resistance, casualties, or strategic refocus produces de-escalation; sanctions architecture adjusted; reset hemispheric relations.

Drivers

  • Domestic political shifts
  • Allied pushback

Signals to watch

  • Civilian casualty events
  • OAS reactions
  • Congressional appropriations
Horizon · 2027-2030
D2 Dollar: Sharper Decline15–25%

Major US fiscal or geopolitical crisis accelerates diversification; share drops below 50% by 2030.

Drivers

  • US debt crisis
  • Major sanctions overreach
  • BRICS+ payment system uptake

Signals to watch

  • US Treasury auctions
  • BRICS+ summits
Horizon · 2027-2030
D3 Dollar: Status Quo Stabilization15–25%

Sino-American crisis or PRC capital controls force flight to USD; share stabilizes near 56%.

Drivers

  • Crisis-driven safe-haven flows
  • Lack of rival

Signals to watch

  • Dollar index
  • Cross-border holdings
Horizon · 2026-2030
W1 World: Restoration15–25%

Trump II posture produces perceived US re-assertion; allies recommit; China reassesses; dollar holds; semiconductor reshoring delivers.

Drivers

  • Successful deterrence
  • Allied recommitment
  • PRC overreach response

Signals to watch

  • Combined alliance/deterrence indicators
Horizon · through 2030
E3 Decoupling: Partial Accommodation10–20%

Fiscal/industry pressure produces partial US-China deals; tariff schedules relaxed; investment flows partially restored.

Drivers

  • US business lobby
  • Fiscal pressure
  • Trump II deal-making

Signals to watch

  • US-China summit outcomes
  • Tariff schedule revisions
Horizon · 2026-2028
A3 Alliances: Broad Retrenchment10–20%

US scales back across regions; allies hedge openly; Korea/Japan nuclear questions surface.

Drivers

  • Trump II retrenchment logic
  • Fiscal pressure

Signals to watch

  • US troop withdrawals
  • Korean/Japanese nuclear discussions
Horizon · 2027-2030
W3 World: Multi-Crisis Cascade10–18%

Taiwan + Ukraine + Iran + hemisphere stress simultaneously; alliance architecture overwhelmed; dollar and Treasury markets stressed; partial fragmentation.

Drivers

  • Multiple crisis triggers within short window

Signals to watch

  • Multi-theater pressure indicators
Horizon · 2026-2030
W4 World: Negotiated Multipolarity10–18%

Explicit US-China understanding emerges (formal or informal); spheres of influence partially clarified; cooler period.

Drivers

  • Mutual cost-acknowledgment
  • Trump II / Xi calculation

Signals to watch

  • Bilateral summit outcomes
  • Joint communiques
Horizon · 2027-2030
I3 Iran: Nuclear Breakout10–15%

Iran demonstrates nuclear capability despite strikes; regional cascade pressure.

Drivers

  • Iranian determination
  • Strike inadequacy

Signals to watch

  • IAEA enrichment data
  • Iran withdrawal from NPT
Horizon · 2027-2030
T3 Taiwan: Limited Kinetic Action8–15%

PRC seizes outlying islands (Kinmen/Matsu/Pratas) or conducts limited blockade/missile demonstration; conflict stays sub-invasion.

Drivers

  • PRC opportunistic action
  • Window-of-opportunity calculation

Signals to watch

  • Outlying-island deployments
  • Maritime militia activity
Horizon · 2027-2030
L4 Hemisphere: Major Escalation (Land Operation)5–15%

Major Venezuela land operation; OAS rupture; refugee crisis.

Drivers

  • Trump II political logic
  • Venezuelan provocation
  • Regional contagion

Signals to watch

  • Force buildup
  • Maduro-successor decisions
  • Cuba/Nicaragua posture
Horizon · 2026-2028
E4 Decoupling: Tech-War Escalation5–15%

Sanctions-and-export-controls escalate sharply; PRC retaliates on critical minerals/financial holdings; mutual damage.

Drivers

  • AI compute concerns
  • Crisis-driven escalation

Signals to watch

  • Critical-minerals controls
  • Rare-earth export restrictions
Horizon · 2027-2030
A4 Alliances: Restoration5–15%

2028 election or external crisis produces restoration of pre-Trump-II alliance posture.

Drivers

  • 2028 election outcome
  • Major Russia/China crisis

Signals to watch

  • Election outcomes
  • Major crisis triggers
Horizon · 2028-2030
T4 Taiwan: Full Invasion5–12%

PLA attempts amphibious invasion of Taiwan main island; major war.

Drivers

  • PLA Navy modernization curve
  • Xi political decisions
  • Window-of-opportunity calculation

Signals to watch

  • Strategic dispersal of PLA logistics
  • PLA reservist mobilization patterns
  • PRC strategic stockpiling
Horizon · 2027-2030 (Beckley-Brands danger zone)
T5 Taiwan: Political Accommodation5–10%

Taiwan internal politics shift toward accommodation with Beijing; de facto unification or formal arrangement.

Drivers

  • KMT return
  • Taiwan demographic and economic pressures
  • US extended-deterrence credibility doubts

Signals to watch

  • Taiwan elections
  • ECFA-style economic deals
Horizon · 2028-2030+
U3 Ukraine: Russian Breakthrough5–10%

Russia achieves operational breakthrough; takes additional Ukrainian territory; alters strategic calculus.

Drivers

  • Russian generation of mass over time
  • Ukrainian manpower collapse
  • Western aid disruption

Signals to watch

  • US Congress aid votes
  • Frontline manpower data
Horizon · 2026-2028
U4 Ukraine: Ukrainian Breakthrough5–10%

Ukraine achieves operational breakthrough; recovers significant territory; changes Russian internal politics.

Drivers

  • Western weapons delivery acceleration
  • Russian military disorganization
  • Russian elite politics

Signals to watch

  • Russian elite signals
  • Mobilization protests
Horizon · 2026-2028
I4 Iran: Regime Change5–10%

Internal Iranian regime change; uncertain successor stance.

Drivers

  • Khamenei succession
  • Economic collapse
  • Mass protest

Signals to watch

  • Succession signals
  • Protest scale
Horizon · 2026-2030
I5 Iran: Regional Deal5–10%

Broad regional settlement; Saudi-Israeli normalization completes; Iran constrained.

Drivers

  • Saudi-led diplomacy
  • Iranian regime calculation
  • Trump II deal-making

Signals to watch

  • Saudi-Israeli talks
  • Iran-Saudi diplomacy
Horizon · 2026-2028
D4 Dollar: Fragmentation5–10%

Multiple regional currency blocs emerge; sanctions architecture loses bite; structural shift.

Drivers

  • BRICS+ payment system success
  • Major sanctions backlash

Signals to watch

  • CIPS volumes
  • Bilateral currency swap totals
Horizon · 2028-2030+
U5 Ukraine: Escalation to NATO Confrontation1–3%

Direct NATO-Russia clash; nuclear use or near-nuclear-use crisis.

Drivers

  • Russian desperation escalation
  • Miscalculation in Baltic/Polish theater

Signals to watch

  • Russian strategic forces alerts
  • NATO border posture
Horizon · low through 2030

Probabilities are the research's own scenario bands, priced as outcomes. The full argument — history, current state, drivers, and sources — lives in the corpus: read the Future Trajectory chapter.