The escalating conflict along the highly disputed 500-mile Thai-Cambodian land border entered its third day on Saturday, leaving at least 33 people dead and displacing more than 168,000.

Here are the latest military actions:

Our latest coverage:

Moscow-based American political analyst Andrew Korybko posed a critical question on Friday: What is Thailand's endgame if its border conflict with Cambodia spirals into full-scale war?

Korybko's first take: "Demilitarization and regime change might be in the cards..." Read the note here. 

The latest diplomatic efforts to defuse the tense border crisis:

The military balance is tilted heavily in Thailand's favor (at the moment). Second, Thailand has four times the population and a GDP more than ten times larger than that of neighboring Cambodia. 

The International Institute for Strategic Studies (IISS) wrote in its Military Balance 2025 report that "Thailand has a large, well-funded military, and its air force is one of the best equipped and trained in Southeast Asia." 

Thailand, a U.S. treaty ally, has F-16 fighter jets and modern weapons, while Cambodia relies heavily on Chinese military aid. Thailand has warned about possible Chinese-made missile strikes by Cambodia. 

Yet another conflict is emerging in a world fracturing into a bipolar state. The war cycle rages on as major powers rush to build military arms, with threats of further conflicts looming (more here on the investing theme).