Window on the World

Europe has entered a new era of defense spending. But turning record budgets into lasting military capability will require more than money: it will require Europe to build the industrial capacity, supply chains, financing, and long-term demand needed to sustain rearmament for years to come.

In this episode, we examine what it will take to turn Europe’s defense spending surge into a stronger, more resilient, and globally competitive defense industrial base—and the geopolitical ramifications if it does.

The energy race is no longer only about who can generate the most molecules or electrons—it’s about who can keep energy flowing when systems come under stress. The JPMorgnaChase Center for Geopolitics breaks down its latest report, explaining that shift, and why resilience—not supply alone—is now the defining measure of energy security.