Cold war now a hot war: Ian Bremmer on Ukraine

STORY: “I think we can say today that it's really a hot war, not just with Russia and Ukraine, but more broadly between Russia and NATO,” Bremmer said.

"Now, we are starting to see the Chinese put more public pressure on NATO countries against providing military support for Ukraine," he added. "We're talking about the Chinese calling for an immediate cease-fire. We'll see what Xi Jinping's speech is going to look like on the anniversary of the war."

Eurasia Group announces geopolitical “Top 10 Risks” every January. For this year, "Rogue Russia" is the top geopolitical risk and "Maximum Xi" was the number two geopolitical risk.