Financing the Defence Industry – A Comparison of the Investment Climate in the European Union, United States and China

The global military expenditure rose by 3.7 per cent in real terms in 2022 to a record high of $2.24 trillion (Tian et al., 2023). The United States, China and the European Union (as the aggregated national expenditures of its member countries) make up the three largest (see first chart). Given the rising demand, governments and the defence industry are increasing their investments. Evaluating the strengths and weaknesses of each market will be essential in determining the necessary steps forward.

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Switzerland Reintegrates Bunkers into the National Defence Strategy due to Russo-Ukrainian War

On 18 September 2023, Lieutenant General Süssli announced that Switzerland will halt the selling of bunkers and reintegrate them within the national defence strategy. This decision marks a significant change to Switzerland’s previous policy (Allen, 2023, para. 2). In 2010, the Swiss Defence Minister Maurer stated: “The nature of military threats has changed. The bunkers are poorly placed and the weapons they contain will only last for another ten or twenty years. It's not worth maintaining something that you're not going to use in the future” (Allen, 2023, para. 4).

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Zelenskyy To Replace Defence Minister

On 3 September 2023, Ukrainian President Volodymyr Zelenskyy announced the replacement of the country’s defence minister. The cabinet reshuffle was made despite the apparent progress of Kyiv’s counteroffensive, which has seen its forces advancing into Russian-occupied areas. Oleksiy Reznikov’s dismissal as defence chief represents the most significant alteration within this government since Russia launched its full-scale invasion last year.

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The 2023 G20 Summit: Addressing Russia’s War Against Ukraine.

On 9-10 September, world leaders gathered at the 18th G20 Summit to discuss the prevalent issues facing the world in New Delhi, India. This year’s edition theme: ‘Vasudhaiva Kutumbakam’ or ‘one earth, one family, one future’. Issues of global economic growth along with climate concerns, digitalisation, and gender equality were on the agenda (European Council, Council of the European Union, 2023). However, one topic overshadowed all others: Russia’s war against Ukraine (Bose et al., 2023).

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A New Military Junta Rises To Power In ex-French Africa: Gabon’s Long-Standing President Is Ousted Based On Election Fraud And Corruption Accusations

On Wednesday 30 August, a group of men in army uniforms unseated Gabon’s long-serving president Ali Bongo Ondimba just a few minutes after he won re-election in highly contested presidential elections (Yeung, 2023). The vote had seen the governing Gabonese Democratic Party (PDG) consolidating its majority in both houses of parliament, thus guaranteeing Ali Bongo over 64% of the votes cast and a third consecutive term in office (Bonny, 2023). Whilst seizing power, the newly established junta declared the election to be fraudulent, temporarily curtailed the Internet to allegedly prevent the spread of misinformation, shut the country’s borders ‘until further notice’, refused to allow vessels to leave the post of the capital Libreville, imposed a nightly curfew and dissolved ‘all the institutions of the republic’ (BBC News, 2023; Yeung, 2023; VOA News, 2023; Rédaction Africanews, 2023).

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