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We discuss the conceptual ideas underlying the Asymptotic Safety approach tothe nonperturbative renormalization of gravity. By now numerous functionalrenormalization group studies predict the existence of a suitable nontrivialultraviolet fixed point. We use an analogy to elementary magnetic systems touncover the physical mechanism behind the emergence of this fixed point. It isseen to result from the dominance of certain paramagnetic-type interactionsover diamagnetic ones. Furthermore, the spacetimes of Quantum Einstein Gravitybehave like a polarizable medium with a "paramagnetic" response to externalperturbations. Similarities with the vacuum state of Yang-Mills theory arepointed out.

On quantum gravity, Asymptotic Safety, and paramagnetic dominance