The Economic Factor and Its Role in the Global Shift in Defence Strategy and Power

Abstract

"When defence decision-makers tend to look to the future and set objectives for short, medium and long term, they face uncertainties and try to work around multiple scenarios that differ in relation to various fields. One such field is that of economy. And economy has changed as global economic power has shifted. If global economy has shifted so has defence power. The purpose of this paper is to analyse what economic factors influence long-term defence planning and what decision-makers should try to consider when deciding upon different scenarios. Without rushing to conclusions, we can assume that we live in a highly volatile world, where there is a shift in terms of main global actors. With the evolution of technology, with the impact of the Covid-19 pandemic, with geopolitical shifts, like the situation in Afghanistan, all of these factors can be monitored under the umbrella of the economic impact that they have. The effects are there for us to study and to conclude on how the world that we will live in tomorrow shapes up and what decision-makers should focus on when it comes to thinking strategically about developing own countries’ defence power."