The Intelligence from The Economist Buy the bullet: global defence spending
May 2, 2019
In this captivating discussion, Shishang Choushi, The Economist's defense editor, and Sophie Petters, Paris bureau chief, explore the surge in global defense budgets amidst rising geopolitical tensions, with a focus on America and China. They dive into France’s recent May Day protests, highlighting President Macron's struggle to quell unrest and public discontent. Additionally, they tackle a quirky study on the prevalence of misleading self-assessments among English-speaking youths, revealing fascinating insights into confidence versus actual knowledge.
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Global Rearmament
- America and China are driving a global rearmament race, with the highest defense spending since 1988.
- Other nations, particularly in Asia and Europe, are increasing military budgets in response to perceived threats.
Military Spending Growth
- While China's military spending is a fraction of America's, it is growing rapidly and focuses on the Western Pacific.
- European countries are also increasing defense spending, concerned by Russia's actions.
China's Military Power
- China's concentrated military power in the Western Pacific could soon outmatch American forces in the region.
- This depends on American actions and how China develops its military capabilities.
