
Bloomberg Wall Street Week - November 1st, 2024
Wall Street Week
Rethinking U.S. Defense Strategy
This chapter examines the decline in U.S. defense spending as a percentage of GDP, stressing the urgent need for smarter investments in low-cost, high-tech military systems. It critiques the traditional reliance on superior technology and advocates for reform in the defense procurement process to keep pace with modern warfare developments, especially in the context of increasing threats from nations like China. The chapter also highlights the challenges posed by industry consolidation and the zero-risk mentality that stifles innovation within the Defense Department.
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