Russia has the upper hand in weapons production over the West and intends to keep the rate of growth high, a top Russian minister said yesterday after the West and Russia ramped up arms production for the Ukraine war.
Russia invaded Ukraine in February last year, triggering the biggest conflict in Europe since World War II, and the deepest confrontation between Russia and the West since the depths of the Cold War.
Ukraine and its Western backers ramped up arms production in an attempt to defeat Russian forces on the battlefields of Ukraine. Russia also hiked production, but says the West is to blame for the war which Moscow dates to 2014.
Photo: Russian Ministry of Defense Press Service via AP
“I don’t want to boast, but I can say that we began to gain and picked up the pace of production earlier than Western countries,” Russian Deputy Prime Minister Denis Manturov, who oversees arms production, told the Russia’s state news agency RIA Novosti.
“Another question is how long this race will last,” Manturov said, adding that a 2025-2034 armament plan was due to be approved next year.
Russian President Vladimir Putin and Russian Minister of Defense Sergei Shoigu have said that production of artillery, drones, tanks and armored vehicles is soaring.
Some former leaders of the West have spoken about a new Cold War between Russia and China on one side and the US and its allies on the other, although Russia’s US$2 trillion economy would find it hard to counter the entire might of the West alone for long.
The US’ nominal GDP was US$27 trillion this year, while China’s was US$17.7 trillion, IMF data showed.
“We must both replenish reserves and maintain the given rate of production,” Manturov said. “As far as it comes to the guts of Western countries — here I would not want to speak for them.”
The volume of state defense orders this year has doubled over the previous year, with production of “certain weapons” rising 10-fold, he said.
CREDIT-GRABBER: China said its coast guard rescued the crew of a fishing vessel that caught fire, who were actually rescued by a nearby Taiwanese boat and the CGA Maritime search and rescue operations do not have borders, and China should not use a shipwreck to infringe upon Taiwanese sovereignty, the Coast Guard Administration (CGA) said yesterday. The coast guard made the statement in response to the China Coast Guard (CCG) saying it saved a Taiwanese fishing boat. The Chuan Yu No. 6 (全漁6號), a fishing vessel registered in Keelung, on Thursday caught fire and sank in waters northeast of Diaoyutai Islands (釣魚台). The vessel left Keelung’s Badouzih Fishing Harbor (八斗子漁港) at 3:35pm on Sunday last week, with seven people on board — a 62-year-old Taiwanese captain surnamed Chang (張) and six
RISKY BUSINESS: The ‘incentives’ include initiatives that get suspended for no reason, creating uncertainty and resulting in considerable losses for Taiwanese, the MAC said China’s “incentives” failed to sway sentiment in Taiwan, as willingness to work in China hit a record low of 1.6 percent, a Ministry of Labor survey showed. The Directorate-General of Budget, Accounting and Statistics (DGBAS) also reported that the number of Taiwanese workers in China has nearly halved from a peak of 430,000 in 2012 to an estimated 231,000 in 2024. That marked a new low in the proportion of Taiwanese going abroad to work. The ministry’s annual survey on “Labor Life and Employment Status” includes questions respondents’ willingness to seek employment overseas. Willingness to work in China has steadily declined from
The Legislative Yuan’s Finance Committee yesterday approved proposed amendments to the Amusement Tax Act (娛樂稅法) that would abolish taxes on films, cultural activities and competitive sporting events, retaining the fee only for dance halls and golf courses. The proposed changes would set the maximum tax rate for dance halls and golf courses at 50 and 20 percent respectively, with local governments authorized to suspend the levies. Article 2 of the act says that “amusement tax shall be levied on tickets sold or fees charged by amusement places, facilities or activities” in six categories: “Cinema; professional singing, story-telling, dancing, circus, magic show, acrobatics
INFLATION UP? The IMF said CPI would increase to 1.5 percent this year, while the DGBAS projected it would rise to 1.68 percent, with GDP per capita of US$44,181 The IMF projected Taiwan’s real GDP would grow 5.2 percent this year, up from its 2.1 percent outlook in January, despite fears of global economic disruptions sparked by the US-Iran conflict. Taiwan’s consumer price index (CPI) is projected to increase to 1.5 percent, while unemployment would be 3.4 percent, roughly in line with estimates for Asia as a whole, the international body wrote in its Global Economic Outlook Report published in the US on Monday. The figures are comparatively better than the IMF outlook for the rest of the world, which pegged real GDP growth at 3.1 percent, down from 3.3 percent