Ukraine continues to need American weapons to hold out against Russia, and now a global military spending boom is set to further benefit the US arms industry. There are accusations of 'profiteering', but is there any alternative?
The bill includes funding for Taiwan and Ukraine, allowing the Pentagon to buy massive amounts of high-priority munitions using multi-year contracts — both to help Kyiv fight Russia and to refill US stockpiles."It's just mind-boggling how much money is going into the Pentagon."
"In 2020, Lockheed Martin got more money through federal contracts than the Department of State and USAID combined," she told the ABC.Japan's new weapons spend will see it become the world's third-biggest military spender.Last month, Prime Minister Fumio Kishida said he was boosting Japan's 2023 defence budget by 20 per centIt includes around 250 billion yen to buy Lockheed Martin fighter jets.
Meanwhile, some NATO countries are pushing for a greater defence commitment in response to the Ukraine conflict, saying the benchmark of 2 per cent of GDP should be the bare minimum."They continue to arm repressive regimes like Saudi Arabia, Egypt, the Philippines and Algeria that have horrific human rights records and have engaged in destabilising activities," Mr Hartung said.
The European Union's chief diplomat Josep Borrell has accused the US of profiting from high gas prices, weapons and trade while its allies suffer.
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