What are the economics of war?
Last March, Thierry Breton, the EU's commissioner for internal market, advocated for a shift of the European defense industry toward a war economy.
Europe is facing an "existential threat," he said, as the Commission announced a new defense strategic plan, with a minimum of €1.5 billion ($1.6 billion) subsidy to boost the continent's war machine.
Nations are investing in their armed forces too.
In Germany, arms maker Rheinmetall inaugurated a new factory in February that will produce artillery ammunition, explosives and rockets.
Aerospace and defense company Kongsberg also opened a new anti-ship and cruise missile manufacturing plant in Norway last June.
According to the Stockholm International Peace Research Institute, military expenditure reached a peak of $2.4 trillion in 2023, the highest year-on-year rise since 2009.
Watch the video above to learn more about the economics of war.
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Europe is facing an "existential threat," he said, as the Commission announced a new defense strategic plan, with a minimum of €1.5 billion ($1.6 billion) subsidy to boost the continent's war machine.
Nations are investing in their armed forces too.
In Germany, arms maker Rheinmetall inaugurated a new factory in February that will produce artillery ammunition, explosives and rockets.
Aerospace and defense company Kongsberg also opened a new anti-ship and cruise missile manufacturing plant in Norway last June.
According to the Stockholm International Peace Research Institute, military expenditure reached a peak of $2.4 trillion in 2023, the highest year-on-year rise since 2009.
Watch the video above to learn more about the economics of war.
#CNBC
-----
Subscribe: http://cnb.cx/2wuoARM
CNBC International TV: https://cnb.cx/2NGytpz
LinkedIn: https://www.linkedin.com/showcase/cnbc-international/
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Facebook: https://www.facebook.com/cnbcinternational
Instagram: https://www.instagram.com/cnbcinternational/
Threads: https://www.threads.net/@cnbcinternational
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