Moscow’s Armada -- Newsweek
While much of Europe slashes spending to reduce deficits, surging oil prices are allowing Russia to splurge. The Kremlin’s choice of stimulus package is a bit of a throwback, though—among other things, a new fleet of warships to challenge China. Last week Prime Minister Vladimir Putin announced a whopping $678 billion package of new defense spending for the next decade, with a quarter of the money going to revamp Russia’s Pacific fleet. On the Kremlin’s shopping list: 20 new ships, including a new class of attack submarines, plus new missile subs, frigates, and an aircraft carrier.
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My Comment: They may spend the money on military hardware, but Russia's demographic crisis will give them a problem on who will man these ships, tanks, and planes.