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Pointy sticks
Financial Standard
|March 24, 2025
"Pe eace is our profession, but war is our business" was a darker spin on the official motto of the US Strategic Air Command, the Cold War era force behind America's nuclear deterrence.
In 2024, business was booming, with global defence expenditure soaring to US$2.4 trillion, a 7.4% increase from the previous year.
Unsurprisingly, the US accounts for the lion's share of this spending, US$916 billion per the Stockholm International Peace Research Institute (SIPRI). This exceeds the spending of the next nine nations, seven of whom would traditionally be considered allies.
Therein lies the issue: Global regime changes and the Trump administration's tariff tiffs have seen the upending of friendly diplomatic relationships. Add in some sabre-rattling with threats to annex Canada and Greenland, and hairs have been raised in allied EU and NATO states.
Esta historia es de la edición March 24, 2025 de Financial Standard.
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