It lost almost everywhere, the big exception being China, and now it's coming back.
"Is it a matter of time before the collapse of the West?"
There is no such thing as "the West", only the US empire, which has been in territorial decline ever since pro-China Hong Kong won against anti-China Hong Kong.
The time is when Ukraine loses the war, because that's going to cause political shock waves across the world. Mostly because of the amount of investment the EU and US are pouring into this in order to weaken Russia.
But even if the Ukraine war is won, the decline of the US and EU will continue.
A turn-around would be the US or EU finding massive fossil resources in their area. That's not going to happen.
"Or will fascism have a complete takeover?"
In the US? Maybe. But the EU will collapse before it can get off the ground.
The Ukraine toll will be too large.
"What are some things that will almost certainly happen?"
Ukraine will lose the war.
The moment the war is lost, US and EU public will panic and in response, escalate the issue even further. Holding fascist riots against any nation that's neutral towards Russia. Chinese, Indians, Muslims. They're all targeted and it will be done in the name of peace and freedom and democracy.
What's done against Russia right now, will be done against China, India, Saudi-Arabia and other countries.
The EU far-right will be further split into pro-Russian conservatives and pro-liberal pro-Ukrainians.
EU will be poorer than Russia and China on a per capita basis by 2030.
EU will have civil wars between liberal (+fascists), pro-Russian conservatives (-fascists), and socialists.
Hyperinflation in the US, EU and Japan.
Taiwan will be reunited with the PRC before 2030.
War between US and Saudi-Arabia before 2030.
Saudi Arabia is flirting with Russia because they don't want to end up like Puerto Rico. But threatening petrodollar is exactly how you end up like Iraq or Libya. I wouldn't be surprised if we start to hear about Saudi atrocities in the western media soon.