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The article analyzes the transformation of the Post-Cold War order, and its implications for Armenia. It argues, that after the 2007-2008 world financial crisis, the Unipolar Post-Cold War order started its transformation towards multipolairty. This transformation triggered the geopolitical competition between great powers, such as the US, China, and Russia, while the war in Ukraine brought the West and Russia to a direct confrontation. The relative decline of the US as the world sole superpower resulted in the rise of power struggle for regional dominance adding instability in different corners of the world. Located in the strategic crossroad between Russia, Middle East, Europe and Central Asia, South Caucasus has become one of the battlefields between global and regional powers vying for influence and domination. In the backdrop of rapidly changing global and regional context, Armenia faces two primary choices. To become a Western bulwark against Russia, assuming the role of Georgia under the president Saakashvili, and fostering partnership with Turkey and Azerbaijan to balance against Russia and Iran, or to strengthen its relations with Russia, India, and Iran, seeking to balance Turkey’s and Azerbaijan’s growing regional ambitions and preventing the transformation of Armenia into Azerbaijan’s and Turkey’s political and economic backyard.
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