The 22nd Annual Meeting of the Valdai Discussion Club began in Sochi on September 29, 2025, exploring the theme “The Polycentric World: Instructions for Use.” The ninth session was titled “Freedom and Dependence: Development Amid Political Conflicts and Economic Turmoil?” Geopolitical and military conflicts are severely disrupting the global economy and complicating development. Beyond immediate political pressure, the world’s cumulative debt – now exceeding $100 trillion – continues to grow. This accumulation of debt and the ensuing slide into deeper dependency have been central tools of liberal globalization. However, the rise of political differences and the punitive instrumentalization of the economy are bringing this old model to an end. The participants discussed if there is a more equitable path forward.