I am personally looking for a few things that will concern me about escalation:
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Japan and Finland making active land claims to Russia (actively reoccupying disputed land with troops)
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Europe putting peace keepers in Western Ukraine (which will create a casus belli for war with Russia), specifically France and the UK. I mean, Poland as well, but if Poland says they are putting peacekeeping troops in Ukraine, Russia should either back off or assume war.
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South Korean troops in Ukraine. (Ridiculous given their current chaos, but stranger things have happened in the last year).
Other than that, the russian frog has been very well boiled for 3 years. Even China has probably gone back to the drawing board on a taiwan invasion, and added a delay until 10 millions drones are available.
I do have concerns trump will pull the us back in europe, making the second item above possible if not likely. The first trump presidency shook us primacy in europe, and the second may see it start to unravel. If europe has to take russia alone, the us should consider china a personal problem from now on (as well as any other concerns not near europe), as no one will see value in going to war with a fair-weather ally.