The chandeliers of the Bayerischer Hof glowed against a February chill as more than 450 presidents, prime ministers, generals and executives gathered for three days that felt less like a conference than a reckoning. The 62nd Munich Security Conference, held from Feb. 13 to 15 across the Bayerischer Hof and the Rosewood Munich, unfolded amid a sense that the post–Cold War order — the one Europe thought it had secured — is slippin...

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