For many, Russia’s invasion of Ukraine was unthinkable until it happened. Now the war is prompting a broader re-assessment of military capabilities and investment.
Moscow’s actions are shifting the debate in Europe, where governments for years found little appetite among voters to spend more on defense. French President Emmanuel Macron famously branded NATO “brain dead” and implied it was not fit for purpose in the modern era.
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But now Finland and Sweden are pondering applying to join the defense alliance. The U.S. and European nations are funneling military aid into Ukraine, including anti-tank and anti-aircraft missiles, and requesting that defense contractors speed up production.
Even if the fighting in Ukraine slows soon, we are in a new era of tension between Russia and NATO states. Vladimir Putin will bristle at any move to expand NATO’s membership. The military alliance is bolstering its eastern flank with troops and equipment.
That’s likely to see greater leeway for governments to spend more, and fast. The Stockholm International Peace Research Institute says global military outlays surpassed $2 trillion in 2021 for the first time, and look set to rise further.
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