Fear of Russian aggression will help drive European defense spending up by 8.3 percent this year, putting a halt to 20 years of declining budgets, a new report by European think tanks claimed.
Over two decades after the end of the Cold War, Vladimir Putin’s expansionist policies in Crimea and Ukraine have pushed European leaders to once again increase their spending on military programs, according to the report, which was funded by the European Defense Agency.
“The decline that has affected European defence budgets for over twenty years, and more acutely after 2008, has halted,” the new report stated, adding that the rise is most pronounced in central and Eastern Europe, an area covering the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia.
Those seven countries will hike spending by 19.9 percent this year, the report said, with Hungary pushing up spending by 22 percent to nearly €1 billion.
In southeastern Europe, an area covering Bulgaria, Croatia, Cyprus, Greece, Romania, Serbia and Slovenia, the rise will be 9.2 percent, while Western Europe will see a rise of 2.7 percent.
Peace dividend is a political slogan popularized by US President George H.W. Bush and UK Prime Minister Margaret Thatcher in the early 1990s, purporting to describe the economic benefit of a decrease in defense spending. The term was frequently used at the end of the Cold War.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.