00:00We have this big industry forum now. We just had a meeting on it. It's really looking good.
00:06And we need it because Putin will not like it. And that's exactly what I like.
00:11So we don't need generic intentions. We need really concrete agreements. We need contracts.
00:17It's a must. It's urgent because the dangers we face are real.
00:23And of course, we all know this and this is the reality.
00:26We know that Russia is at this moment investing 40% of its budget in defense.
00:3440% of what every dollar or year, whatever you call it, they spend as a country from the national
00:44state budget.
00:4540%, 4-0% is spent on defense. And that means 10% of the GDP.
00:49Moscow is churning out military equipment around the clock.
00:54All guns blazing. They're really on a war economy.
00:58It's a bit like the US in the Second World War. Under Roosevelt, it's a bit now Russia at the
01:02moment.
01:03So the whole industrial base is producing for the war effort.
01:06At the same time, we also know that China continues to modernize its forces and to expand its nuclear capabilities.
01:13Without any transparency, they will have a thousand nuclear wars by 2030.
Comments