Depends on what you mean by “WW-III”. I think that’s a very vague term that unfortunately predicts some sort of all-out formal military war between nations, and/or nuclear warfare, just because of what happened in the past and what was feared for a few decades after.
I think that’s an unfortunate mental box to be constrained by.
One major shift that is becoming clearer and clearer is that the main powers are no longer very believable as nation-states and their people striving against each other as teams (which was a dominant model which actually led to the first Great War). In recent decades, however, it is clear that there are other major bases of power that are not nation-states and which are not aligned with national populations. Multi-national corporations. Industries and other groups of multi-national corporations that work together and/or are owned by the same groups of companies and investors and so on. The inter-owned trans-national banking industry. The people who own large controlling parts of those.
There may still be a narrative about the USA being attacked on 9/11 and going off to fight a War On Terror by invading Iraq and Afghanistan etc., but it’s pretty clear that that’s mostly just a narrative to enable it to happen, and that the causes for it all have to do with the oil industry and the concerns of other powerful groups who are not actually the US Government, the United Nations, nor the people of the USA (except the ones who buy and cling to the superficial story about it).
There are certainly major conflicts going on, even if they mostly do not involve much conventional warfare. Mostly it seems to involve corporate domination of governments, laws, natural resources, patents, wealth, industry trends, culture and ideas.
The above may well lead to escalation in conventional violence, especially with the orange clown act as POTUS. Putin has since many years warned of eventual warfare over such things as US corporations’ continued pushing of GMO crops, for example. China would like to take over Taiwan. Climate change is liable to cause various extreme crises at some point. Etc.