Lessons from the Frontline: The Burgeoning Security and Economic Race in the Indo-Pacific

Abstract

Democracies in the Indo-Pacific are facing an increasingly competitive and securitized environment, as China turns more assertive and the US-China rivalry escalates. Disruptions include uncertainty about the global economic order, technological decoupling, an arms race amidst intense hot spots, an economic security spiral, and larger systemic risks around climate change, AI governance, etc. Countries such as Japan and Korea are actively responding to these risks through a strategic approach to economic security and increased defense spending, active alliance development, and parallel continued investment in global institutions and dialogue. Canada must be jolted out of its-business-as-usual approach and take a cue from its closest partners in Asia. This includes investing rapidly in its security (2% of defense over GDP) and the creation of an economic security council under the Prime Minister. Canada should also join its key partners in effectively investing in key global institutions in times of crisis.