Surface Navy 2018: Foreign-held US debt strengthening potential rivals
Foreign governments are using US debts to enhance their own defence capabilities, according to USCG commandant ADM Paul Zukunft, speaking at the Surface Navy Association symposium on 10 January.
China is among the largest holders of US foreign debt, estimated at around $1.2 trillion last year, accounting for some 19% of total debt held outside of the country.
The country has undergone a rapid development of its own defence capabilities and expanded its areas of interest and operations beyond the Asia Pacific region in recent years, rivalling previously assumed US supremacy in the region.
New aircraft carriers, submarines,
Our news & analysis is now part of Defence Insight®
A Basic-level or higher Defence Insight subscription is now required to view this content.
More from Naval Warfare
-
![Suppliers await next step in Australia’s mine warfare transition]()
Suppliers await next step in Australia’s mine warfare transition
Australia’s mine countermeasure capability remains in flux as the Huon-class nears retirement, but accelerated investment in autonomous systems is opening a path for industry.
-
![Can the US Navy ask Indo-Pacific allies to do more while training with them less?]()
Can the US Navy ask Indo-Pacific allies to do more while training with them less?
As the Iran War draws US ships and marine corps units away from the Indo-Pacific, curtailed exercises and a temporary carrier gap are exposing tensions between Washington’s demand for more self-reliant allies and the joint training needed to realise that ambition.
-
![How could Rheinmetall’s GMF 140 fit with ongoing programmes in North America?]()
How could Rheinmetall’s GMF 140 fit with ongoing programmes in North America?
With Canada committed to its River-class replacement and the USN pursuing a lower-cost frigate, Rheinmetall will need to demonstrate where the GMF 140 can fill a capability gap in the North American fleet.
-
![Australian industry programme builds pipeline for Virginia-class sustainment]()
Australian industry programme builds pipeline for Virginia-class sustainment
Australian businesses can now bid to support Virginia-class submarine sustainment in Western Australia, as momentum around the Henderson Defence Precinct also builds.
-
![South Korea, Japan and Turkey vie for US shipbuilding access in future frigate contest]()
South Korea, Japan and Turkey vie for US shipbuilding access in future frigate contest
Washington’s search for a foreign-built frigate could hand South Korea, Japan and Turkey a larger prize than a double-hull order: a foothold inside the US shipbuilding industrial base.
