Billions in new defense spending is here, but European firms don’t have the supply, coordination or speed to match the war-time demand.
- Europe’s efforts to revamp its chronically underfunded militaries have exposed a peace-time defense industry ill-equipped to supply weapons for the Russian threats piling up nearby.
- The recent Russian mobilization, nuclear threats and suspected gas pipeline sabotage have only heightened the local nature of these threats.
- “We hear from U.S. colleagues, actually advice,” said Jiří Šedivý, head of the European Defense Agency (EDA), an EU agency that is trying to help countries team up on defense purposes. “‘
- Globally, defense spending has now surpassed $2 trillion.
- Conversely, when Poland, one of Ukraine’s largest military aid donors, decided to replenish its stocks, the government turned to South Korea, signing a record €14.5 billion weapons deal in July.
- From China no more From an EU perspective, keeping investments at home is also part of a broader desire to reduce foreign dependence on autocratic countries like China, which the EU and NATO have labeled a “systemic rival” that seeks to “undermine the rules-based international order.”
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