At the moment we are in the second part of the cold war after short meltdown of international relations between Moscow and Washington. Last Russian military actions and scientific achievements are clear message to the Washington that in the case of further imperialist ideas they will not tolerate to be out powered.
Biggest problem in this story is weak position of EU that can not become tampon-zone divided between east and west. In this sense American missile shield defense in east Europe is direct potential for causing third world war that will be certainly catastrophic and its main front-row will be again in Europe. However, our main advantage is weak US economy, that cannot be simply fixed with additional oil supply but it needs much more serious reforms (Thank God for China). Despite imperialist international relations and protectionist economic policy in the US, they are not able to fix their problem of export deficit, especially with China that makes US depending on cheap China products. At the moment China is economically strong enough and fast growing to become economic world superpower.
European union is also preparing possible back-strike to American immigration policy on the airports, that will (if accepted) limit uncontrolled free entrance (similar to American visa waiver) of foreign citizens into EU. So here we go to more free world.