Thanks everyone for the comments.
@BigBadBob: Yeah, the power doesn't shift too much, but I guess that's the problem (or not, depending on the point of view) with the wargoal system. The infamy cost for a non-CB war is huge, and the AI takes care not to go over the infamy limit. At the same time, it doesn't seem like the AI is so determined like a human player, that keeps declaring war on a nation to decrease its power (wars are pretty random), so most GPs stay in their spots with or without wars.
@Communitarian!: Thanks for the reply. It takes a great while for me to write a chapter because there are so many details, and I usually read it again over and over a thousand times to get a feel of it before I post it. So the updates aren't very frequent, but I am glad people are interested!
I'll be posting a new chapter in a few minutes