I personally fear that in a de-globalized world, there is a higher chance of a third World War. Of course, there is the policy of M.A.D, but that seems like such a weird place to be in.
Absolutely. I think we're returning to a multi-polar situation like we had prior to WWI. Without a clear global hegemon - great power competition could definitely lead to a major war.
To be honest, we are already in a multi polar situation. USA is still a superpower, China is definitely one. Russia is not "super" but it is reemerging as a force to contend with. The OPEC Countries are one bloc of their own. Then there are places like Iran, Venezuela, Cuba that are somehow immune to foreign pressure.Then there are countries like India where we play on many sides.