Looking to Sell Weapons, Military Contractors Push Arms Race With China
The intensified cold war with China and Russia is perhaps among the gravest of threats to humanity.
By Jonathan Alan King & Richard Krushnic
Truthout
July 16, 2023
Manufacturing in China has long supported the relatively high standard of living of millions of U.S. residents while helping U.S. corporations profit handsomely. Apple, Tesla, General Motors, Nike, Texas Instruments and Qualcomm have significant manufacturing operations in China. Meanwhile the Chinese government invests in U.S. Treasury and government agency bonds, having purchased about a trillion dollars’ worth over the last decade.
Despite these benefits for the U.S. economy, Defense Secretary Lloyd Austin has stated that China remains the top challenge to U.S. national security interests. According to Assistant Defense Secretary Ely Ratner, major upgrades including new war ships and ballistic-missile submarines, attack helicopter squadrons, and an artillery division headquarters in the region will make U.S. forces more mobile, more distributed, more resilient and more lethal.