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Hedge strategies became famous after the strange year of 2008 when Lehman Brothers went bankrupt and the Norwegian stock market crashed by 55%. Countries could benefit from the hedging strategies known from the financial world during an era when the American hegemony is about to end. In a polar or bipolar world where stakes are well known hedging is unnecessary, but in a multipolar world dominated from two to ten states the importance of hedging increases. A successful foreign policy hedging strategy aims at finding a low delta by reducing and managing risk, pushing decision making into the future, keeping options open and developing insurance mechanisms. L. Pitkaniemi