Washington, Feb. 22 (Xinhua) -- Wall Street** recently published an article entitled "How the War in Europe Improves the U.S. Economy," revealing the fact that the U.S. economy has benefited a lot from the Russia-Ukraine conflict.
The article says that over the past two years, orders for the US defense industry ** and ammunition have increased significantly. U.S. defense and aerospace industry has grown by 17 percent since the start of Russia's invasion of Ukraine, according to Federal Reserve data5%。Biden has said that $60.7 billion of the $95 billion supplementary defense budget is earmarked for Ukraine, and 64% of that will actually flow back to the U.S. defense industry.
On February 19, 2023, in Washington, D.C., a ** person held a sign in front of the Lincoln Memorial to participate in a rally. Photo by Xinhua News Agency reporter Liu Jie The article said that European countries have become "big customers" of the United States. Miles Walton, a military industry analyst at Wolf Research, said European countries** have spent the equivalent of "a generation's investment" on U.S.-made jet fighters and other military hardware in recent years, with the past few years having invested as much as the previous 20 years. Walton said the United States recently said that in the year to September last year, the United States had more than $80 billion in major arms deals, of which about $50 billion were sold to European allies, which is more than five times the historical normal.
The article points out that the current situation has brought the United States and Europe closer to each other, and it is more beneficial to the United States, and the benefits of the US industry are only one of the manifestations. The disruption of Russian gas** has spurred European demand for US LNG. U.S. LNG exports are expected to nearly double by 2030, with about two-thirds of them going to Europe.
The article said that the United States previously said that the funds allocated to Ukraine-related affairs are rebuilding the defense industrial base of the United States, launching and expanding the first ammunition production line, and providing employment support to 40 states.