The single most important development that will unfold during 2026 are the U.S. midterm elections that will take place in November. The world has seen a dramatic regression of liberal democracies worldwide over the past decade.  Two large authoritarian powers, Russia and China, have tightened repression at home and projected their influence around the world. But critically, their rise has been abetted by the growth of populist nationalist parties in many developed democracies.  The most import