FEAR & GREED | Business News Interview: Why Ukraine's massive drone strike won't end 'frozen conflict'
Jun 2, 2025
James Curran, a Professor of Modern History at the University of Sydney and columnist, dives into the shifting geopolitical landscape. He discusses how the U.S. is pressuring Australia for increased defense spending amid China's growing influence. The podcast also highlights Ukraine's significant drone strike on Russian airfields and its implications for military morale and the broader geopolitical context. Curran examines strategies concerning Taiwan and the delicate balance Australia must maintain between the U.S. and China.
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US Pushes Defense Spending Increase
- The US is applying a Europe-style approach demanding Asian allies increase defense spending.
- Asia's economic and political realities make such demands difficult and potentially unrealistic.
Australia's Cautious Diplomacy Advice
- Australia should engage diplomatically but resist large defense spending hikes demanded by the US.
- Maintaining trade ties with China is critical despite US pressure to choose sides.
China's Taiwan Strategy Insight
- A Chinese military invasion of Taiwan imminence is uncertain, but economic strangulation seems likely.
- Xi Jinping prioritizes 'rejuvenation' with Taiwan's return, but prefers subtle pressure over outright attack.
