Bangladesh, Nov. 24 -- Lebanon stands once again on the edge of a precipice it knows all too well. The countrys fragile political system, broken economy, and deep internal divisions have combined with intensifying regional hostilities to create an atmosphere filled with dread and uncertainty. At the center of this gathering storm is the never-ending confrontation between Israel and Hezbollah, a conflict shaped by shifting regional alliances, domestic paralysis, and the conflicting ambitions of local and foreign powers.

Israeli Prime Minister Benjamin Netanyahu has long presented himself as the leader best equipped to defend Israel against what he calls “existential threats.” This doctrine has only hardened since the October 7...