Source:https://www.scmp.com/week-asia/opinion/article/3247453/will-2024-be-year-rein-military-industrial-complex-biggest-threat-global-peace
This Week in AsiaOpinion

Asian Angle | Will 2024 be the year to rein in the military-industrial complex, the biggest threat to global peace?

  • The complex, a key part of US political economy, fuels geopolitical tensions and enables countries and private actors to push for and capitalise on conflict
  • It’s time for societies to make concerted efforts to rein it in and build a movement to educate the world about the grave threat it poses to civilisation

Chandran Nair
A photo taken from a position in southern Israel along the border with the Gaza Strip, shows Smoke billowing over the Palestinian territory during Israeli bombardment on Thursday amid continuing battles between Israel and Hamas. Photo: AFP

The headline of a Financial Times article on December 28, 2023 seemed to be a wild celebration that global defence order books were bulging as budgets were on a war footing. It outlined that US$760 billion of hardware was in the pipeline, with rising tensions feeding demand, and that investors were piling into stocks.

The analysis painted an upbeat and positive outlook, rather than argue that this is a cause for grave concern. Nowhere in the report was there an examination of the travesty underpinning these developments. It is clearly business as usual despite growing tensions in the world and thus normal to talk about rising military stocks as if these are sanitisers in demand during an epidemic.

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