A century ago these econ conditions would indeed have started a war. But none of the eager participants can afford bullets now. That’s the bottom line reason the Euros aren’t at it already. Germany’s Bund just had a meeting wherein the military genius bleated that the Wehrmacht was “overextended” and just could not afford all their overseas deployments. Note that they might have deployed something line a couple platoons in the last decade (most are back already) plus a ship in the Indian ocean. And they’re bitching about probably losing more of our troops in Germany.
China’s one child policy has led to a glut of young men - all of military age - for now.
Use ‘em or lose ‘em.