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Speaking from an American perspective, "global military conflict" will never happen again. We've gone way too asymmetrical for any true boots-on-ground battle to progress much past the point of "drones perpetually overhead" and "garrisons that never leave." While the Air Force has spent the past 50 years attempting to win Wargames the movie, the Army has been busy attempting to win Vietnam; no first world nation will ever again engage in combat with another first world nation because the stakes are too high and the avenues for deescalation are too readily available.

I think South Ossetia is as close as we'll ever get to old-style conventional warfare.