Newsletter

PI Newsletter #97

1. Germany significantly increases military spending.

DW, April26, 2020

More and more money is going toward the world’s militaries, with the US and China leading the way. But no other top-spending country has increased its military expenditure year-over-year as much as Germany.

[…]

“There’s been pressure on Germany to increase its military expenditure since before the Trump administration,” said Max Mutschler from the Bonn International Center for Conversion (BICC), a peace and conflict research institute. “The impact of this pressure is now becoming clear. However, one has to say that expenditure is still well below the 2% mark.”

At a NATO summit in Wales in 2014, members agreed to meet a goal of spending at least 2% of their GDP on defense within the next decade. Last year, Germany’s military expenditure amounted to 1.38% of its GDP.

https://www.dw.com/en/sipri-germany-significantly-increases-military-spending/a-53250926 

2. China’s Massive Trade Imbalance: The Rope with Which They Would Hang Us

Gatestone Institute, May 7, 2020

China’s communist leadership quickly recognized that if the U.S. continued to demand economic reciprocity, China could easily lose its ability to claim solo superpower status for the remaining decades of the 21st Century.

China found an “accidental” biological and economic weapon that has the potential to achieve their singular strategic goal: removing a strong and powerful international competitor, the United States.

As Vladimir Lenin, the father of the Soviet state, is reported mockingly to have said, “The capitalists will sell us the rope with which we will hang them.” China’s leaders have long believed that America’s unsustainable trade imbalance with China is that rope. Add the global pandemic crisis introduced by China and Beijing sees victory without an artillery shell being fired.

Like blinders falling from the eyes of those who have long avoided the truth, this new clarity will create a united, engaged, and resolute international community prepared to confront Beijing’s agenda of global dominance.

 https://www.gatestoneinstitute.org/15996/china-trade-imbalance

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