Weekly News Update: Mar 8, 2024
2 - 8 Mar 2024
Good morning,
Happy Friday everyone. The world continues to see increased danger and risk as a global conflicts spike to the highest level in 30 years. This risk is fueled by many countries seeking to rearm. China has announced a 7.2% increase to its military budget, and the US budget request nears $1 trillion! Rhetoric between these two superpowers continue to sour, as well, as China warns of ‘disastrous’ conflict with the US and congress mulls banning TikTok.
In the Red Sea, the Houthis have succeeded in three key events: sinking a commercial ship, killing 3 crew on a ship, and cutting undersea communications cables. Iran’s Quds Force leader, Ghanni, seems to be doubling down on Soleimani’s strategy of arming and training proxies to carry out destabilizing attacks.
Autonomy remains front of mind for the defense industry, which continues to see accelerating benefits from the increased spending. European allies seek to crank up spending even more, really feeling the existential…
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