I think it would be a bit unwise to underestimate threats made by any nation.In particular Pakistan and India who both have nuclear weapons and both have their fair share of crazies(though Pakistan might edge out here).
In fact they are "hot" with each other nearly constantly in Kashmir and that situation will only get worse as time goes on and as populations in both nations rise making water more scarce especially when Kashmir is a major source of water.
Just because nothing happens does not mean nothing will ever happen.If anything Pakistan and India and their relationship is a serious threat because they both have nuclear weapons and they just might be crazy enough to use them.
The hatred between(generally speaking) Hindus,Muslims and Sikhs runs very deep and could boil over at any time.The terrorist attack on Mumbai for example very nearly resulted in India declaring war on Pakistan.
The Indian subcontinent is bar far the most likely place for a major conflict to break out.In fact I am honestly surprised that nothing major has happened since 1999.
Plan for the worst hope for the best.
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