International institutions like the Security Council, the General Assembly, the G20, the BRICs, the IMF, etc., continue to be little more than an extension of the (increasingly conflicting) values and interests of member states.
In the nearer term, the likeliest source of risk is a conflict between China and the U.S. These are now the two largest economies in the world, and the combination of their economic interdependence, the sharp differences in their political and economic values, and the growing divergence in their interests makes this relationship potentially dangerous for everyone who might be affected by it - which means pretty much everyone.
There is too large a divergence at the moment in the interests and values of the world's most powerful states.
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