While the pandemic has monopolised attention over the past two years, it's far from the only story, as tectonic changes continue on the world stage and the "great transition" picks up pace. As well as the traditional dynamics of international power, torn between US-China bipolarism and the ambitions of old and new regional actors, this Report explores the other major transitions taking place. Firstly, the economic transition of a world deeper and deeper in debt and now seeing the return of state intervention. Secondly, the transition of the democracies and international law, or more precisely, their dual "crisis" in the face of contrasting models. And thirdly, the environmental and digital transitions, which will be key features of the decades to come. Intertwining inextricably with each other, these transitions will shape the major trends in regional politics and, in turn, be shaped by them. That's why Italy and Europe are facing momentous challenges, which the ISPI Report 2022 strives to outline, to equip readers with a compass for a changing world.