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More or Less: Behind the Stats
Defence Spending, Rare Earths and Trunk Truths
Mar 5, 2025
In this engaging discussion, Ellie Sacklet-Vala, Head of non-ferrous metal pricing at Argus Media, dives into the controversial valuation of Ukraine's rare earth minerals amidst the ongoing conflict. She delves into the stark differences between claimed and actual U.S. aid to Ukraine, as well as the implications for defense spending in the UK. Adding a quirky twist, the conversation explores the fascinating anatomy of elephant trunks. Expect insights into geopolitics, funding challenges, and a sprinkle of humor throughout!
28:30
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Quick takeaways
- The US aid to Ukraine is greatly overstated, with actual contributions closer to $122 billion compared to the claimed $350 billion.
- The UK plans to increase defense spending to 2.5% of GDP, potentially funded by cuts in foreign aid, raising welfare system concerns.
Deep dives
Misleading Aid Figures for Ukraine
The claim that the US has provided Ukraine with $350 billion in aid is significantly overstated. Research from the Kiel Institute for the World Economy indicates that the actual amount is closer to $122 billion. This figure encompasses all aid delivered or clearly specified, rather than promises that remain unfulfilled. Interestingly, Europe has contributed slightly more, with over $142 billion in support, which illustrates a more complex and less one-sided international aid landscape than suggested.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode