Antinuclear

Australian news, and some related international items

AUKUS and the nuclear submarines will have economic effects on Australia, and big defence spending.

Neglected in the flush of enthusiasm that accompanied the AUKUS announcement is the likely cost of Australia’s new defence spending under a “China containment policy”.

New drives to counter China come with a major risk: throwing fuel on the Indo-Pacific arms race  SMH, Tony Walker Tony Walker is a Friend of The Conversation.Vice-chancellor’s fellow, La Trobe UniversitySeptember 27, 2021 “……………….. Australian defence spending likely to rise

What is absolutely certain in all of this is that an Indo-Pacific security environment will now become more, not less, contentious.

SIPRI notes that in 2020, military spending in Asia totalled $US528 billion (A$725 billion), 62% of which was attributable to China and India.

IISS singled out Japan and Australia, in particular, as countries that were increasing defence spending to take account of China. Tokyo, for example, is budgeting for record spending of $US50 billion (A$68 billion) for 2022-23.

Australia’s defence spending stands a tick over 2% of GDP in 2021-22 at A$44.6 billion, with plans for further increases in the forward estimates.

However, those projections will now have to be re-worked given the commitments that have been made under AUKUS.

Neglected in the flush of enthusiasm that accompanied the AUKUS announcement is the likely cost of Australia’s new defence spending under a “China containment policy”. It is hard to see these commitments being realised without significant increases in defence allocations to 3-4% of GDP.

This comes at a time when budgets will already be stretched due to relief spending as a consequence of the pandemic.

In addition to existing weapons acquisitions, Canberra has indicated it will ramp up its purchases of longer-range weapons. This includes Tomahawk cruise missiles for its warships and anti-ship missiles for its fighter aircraft.

At the same time, it will work with the US under the AUKUS arrangement to develop hypersonic missiles that would test even the most sophisticated defence systems…………… 

The price tag for this in terms of equipment and likely continuing economic fallout for Australian exporters will not come cheap. ………….. https://theconversation.com/new-drives-to-counter-china-come-with-a-major-risk-throwing-fuel-on-the-indo-pacific-arms-race-168734

September 28, 2021 - Posted by | AUSTRALIA - NATIONAL, business, politics

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