The power struggle that we see taking place around the world can be seen in Revelation 17. There are two evil entities vying for global dominance. The first is described as a harlot, and the second is the beast with his ten horns.
The harlot is the last days manifestation of Babylon. It is comprised of apostate Israel and those who do her bidding. Her influence is strongest in western cultures but her corruption extends around the globe. She seeks dominance primarily through controlling corrupt politicians, the central banking system, news and social media outlets, and the entertainment industry.
The beast and his ten horns are spiritual entities who are influencing world events to set the stage for the man of sin. The ten horns have counterparts in the natural realm who despise the harlot and seek her demise. Eventually the beast and the ten horns win out and utterly destroy the harlot. They burn down that city that served as her headquarters (Revelation 17:16-18). There's a lot of speculation as to what city that will be. Some see New York City as a strong contender. Others see the enclaves of Washington DC, London, and Vatican City as a possibility. We will know for sure when this is fulfilled because the ten human horns will use the occasion to declare themselves rulers of a new world order.
The political theater that we see going on today primarily in the western world is the process of the beast and his ten horns taking down the harlot. Both of these evil entities are lying and deceiving to the point where it's impossible to know for sure what's really going on or even who is on which side. Just know that what the Bible has foretold will be the eventual outcome regardless of the path taken to get there. The harlot will be destroyed which will lead to the man of sin exercising authority over the nations.
A common metaphor used to describe the current power struggle is the black hats (harlot) vs. the white hats (beast/horns). The black hats, or bad guys, are being exposed for the various forms of evil that they are engaged in by the white hats who are considered to be the good guys by comparison. In reality, both are evil. Don't be fooled into thinking otherwise.