Comments by "Valen Ron" (@valenrn8657) on "Why Slovakia’s Government Collapsed (and why it’s bad news for Ukraine)" video.
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@sebe2255
Security assurances such as those in the Budapest memorandum do not carry as much weight as NATO security guarantees. Still, security assurances have played a role in the effort to freeze and end North Korea’s nuclear program.
These kinds of assurances may not by themselves offer major leverage. However, when looking for ways to prevent nuclear proliferation, Washington and its partners should marshal every possible tool. The problem is that Russia’s actions against Ukraine have discredited security assurances.
If a North Korean diplomat were to ask his or her Ukrainian counterpart how the Budapest memorandum worked out, the response would not be a happy one. At a September conference in Kyiv, former President Leonid Kuchma, who signed the Budapest memorandum for Ukraine, said that Ukraine had been “cheated.” Prime Minister Arseniy Yatseniuk referred to the “notorious” Budapest memorandum. Such comments do not make good advertisements for future security assurances.
Washington cannot undo Russia’s violations. It can and should, however, do more to fulfill its obligations under the Budapest memorandum by doing more to bolster Ukraine and penalize Russia until Moscow alters its policy. Such U.S. action could also change the Ukrainian narrative in the hypothetical conversation with a North Korean diplomat to “the Russians violated the memorandum, but the Americans backed us to the fullest and made Moscow pay.” That would help restore credibility to security assurances as an element in the toolkit of America’s non-proliferation diplomacy.
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@sebe2255 For funding context.
From GPAS__2021 pdf
Pension (mandated nanny state saving funds) vs GDP ratio for 2021
Five Eyes/Five Passport Group,
Australia, $2,333 billion, 174.8% (CPTPP member, Nordic model),
Canada, $3,080 billion, 192.5% (USMCA, CPTPP member, Nordic model)
United Kingdom, $3,564 billion, 135.1% (CPTPP member in July 2023, Nordic model)
United States, $32,567 billion, 156.5% (USMCA member)
(I don't have data for NZ)
Notice the Five Eyes group has similar pension assets to GDP ratio results
Large-scale mandated savings funds enable the government to issue government bonds and large-scale bond buyer markets!
The Western allies learn from the WW2 war bonds experience and went big.
EU
Finland, $279 billion, 104.3% (Nordic model)
France, $166 billion, 6.5%
Germany, $548 billion, 14.5% (Don't blame international banks for Germany's subpar pension saving rate)
Italy, $231 billion, 12.5% (PIIGS)
Netherlands, $1,900 billion, 214.4%, (Nordic model)
Ireland, $197 billion, 49.4% (PIIGS)
Spain, $44 billion, 3.6% (PIIGS)
The EU lacks strategic savings coordination.
Non-EU, Europe
Switzerland, $1,163 billion, 164.3% (Nordic model)
North America
Mexico, $259 billion, 24.9% (USMCA, CPTPP member)
Canada, $3,080 billion, 192.5% (USMCA, CPTPP member, Nordic model)
United States, $32,567 billion, 156.5% (USMCA member)
South America
Brazil, $195 billion,14.3%
Chile, $243 billion, 99.2% (CPTPP member)
East Asia, South East Asia
China, $285 billion, 1.9%
Hong Kong, $199 billion, 58.3%
Japan, $3,613 billion, 73.6% (CPTPP member)
South Korea, $968 billion, 61.0%
Malaysia, $279 billion, 83.0% (CPTPP member)
South-Central Asia
India, $184 billion, 7.1%
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