It's now December, and thus a natural time to look back and think about all that's changed in 2025. What did the Middle East and the world look like at this time a year ago? President Biden was in the Oval Office and President Trump was both the former president and the president-elect. Hamas still held hostages taken on October 7. Iran's regional proxies, though weakened, still threatened both Israel and American interests across the Middle East.

Fast forward to today, and the landscape looks dramatically different. Israel has achieved stunning military victories. The United States Air Force bombed nuclear sites in Iran. New diplomatic possibilities have opened up. The balance of power in the region has shifted in ways that seemed unimaginable just twelve months ago.

And yet, like the laws of physics, the iron laws of politics have asserted themselves: there are unintended consequences even, and especially, of those very stunning military victories. Despite wounding their shared adversary, the Israelis and Saudis have not normalized relations and in fact may be further from rapprochement than when the threat from Iran was at its height. Israel's victory has come at a cost of political and popular support in the United States. The Trump administration's management of the hostages' homecoming, and the terms of the cease-fire, have left Hamas in place, with no external peacekeeping force other than the IDF itself willing to restore order.

To help us understand these developments, we're rebroadcasting a conversation Mosaic's editor, Jonathan Silver, had at the 2025 Jewish Leadership Conference with Walter Russell Mead and Elliott Abrams—two of America's leading voices on Middle East strategy. They discussed the new regional order, the opportunities and vulnerabilities it presents for America and Israel, and how all of this fits into the broader competition between the United States and China.