Ebook: The Economics of Great Power Competition : Why Germany Must Step Up on Defense

Without a sound economic foundation, political and military
ambitions cannot be sustained. This also applies to the geopolitical
competition between the United States and its rivals. So far,
America and its allies are economically ahead of Russia and China.
But where Russia’s long-term outlook is weak, China’s economic
might is rapidly increasing. Despite the war in Ukraine, Washington
will have to focus its resources on Asia. In Europe, Germany,
with its large financial and economic base, should lead on military
spending and enhanced security.