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This a great question. There are so many lasting effects of the Cold War. Here are a few of them.
First, owing to the Cold War there is massive proliferation of nuclear weapons. We can destroy the world several times over. These weapons still exist. And if a rogue group got hold of one of them, it could create havoc in the world.
Second, Russia was hurt gravely. Many Russians were employed in the military sector. When the Cold War ended, these people not only lost their jobs, but the economy on a larger scale was damaged.
Third, many people and nations were involved in proxy wars, especially in places like Southeast Asia. So, the toll on humans lives was tremendous, not to mention that there are still bitter feeling in various places around the world. So, the legacy of the Cold War still exists.
Fourth, in the end, it led to the United States becoming the superpower of the world.
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