Now, as the nadir of the ninth recession grips the world, the warring parties have finally run out of hard currency.
Officially, all the warring factions are still at war, but technically, their military campaigns have stalled. The arms industry finds it unprofitable to keep supplying weapons to penniless factions as promised resource assets are almost never delivered or hardly secure.
Now, towards the end of the depression, the corporate sector has built up mercenary armies in an effort to secure these resources. This added security has helped ease the depression, by allowing the bankster class to make money again.