European leaders, having agreed to spending 5 percent of their GDP on defense, now must decide where that money goes. What factors should they consider to make sure the money leads to the continent’s growth and a cutting-edge defense industrial base? Ravi Agrawal sits down with Jared Cohen, the president of global affairs at Goldman Sachs, to discuss.
Note: This discussion is part of a series of episodes brought to you by the Goldman Sachs Global Institute.
Ravi’s Recommendations:
Amitav Acharya: Pharaohs, Maharajas, and the Making of a Multipolar World
Robert Kagan: The Jungle Grows Back: America and Our Imperiled World
Additional Reading:
Ravi Agrawal: NATO Is Avoiding a Difficult Conversation
Jared Cohen: Don’t Bet Against the Dollar
Justin Logan: Trump Shouldn’t Settle for European Spending Pledges
Matthew Kroenig: A Division of Labor Between Europe and Asia Won’t Work
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August 15, 2025