A Great War may come, or it may not. There were many historical seeds planted which grew into the war, but not all seeds of history end up growing.
As we all likely know, World War 1 was the result of things which had been growing in Europe for years: alliances, both secret and public, and international agreements (likewise both secret and public) entangled Europe in a dangerous web, and one which created the environment where a chain reaction was possible if one party in chain of alliances disagreed with another nation. You also had Germany growing as a power, and seeking its own place in the sun. Germany as a continental power threatened Britain and older powers like France, and its seeking overseas colonies and building up its military to be on par with other great powers also threatened the security of those other nations.
Still, though, World War 1 was not necessarily inevitable. The great powers, or rather some of them, could avoid involving themselves in a conflict, thus making a European war or multiple wars in Europe not a World War. The great powers could signal that they'd take military action if a nation was molested, thus deterring aggression by their possible adversaries. The great powers could see the crisis brewing, and resolve matters diplomatically (I believe a Four Powers conference was proposed before WW1 became what it did).