Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
September 17, 2021: -President Joe Biden announced the formation of a new security partnerships between the U.S, Australia, and the United Kingdom that seeks to strengthen stability in the Indo-Pacific region as China expands its military might and influence.
P.M Scott Morrison of Australia and Boris Johnson of the United Kingdom joined Biden virtually to announce the partnership.
“Today, we take another historic step to deepen and formalize cooperation among all three of our nations because we all recognize the imperative of ensuring peace and stability in the Indo-Pacific over the long term,” Biden says from the East Room of the White House. “This is about investing in our greatest source of strength, our alliances,” Biden said.
“This initiative is about making sure that each of us has the most modern capabilities we need to maneuver and defend against rapidly evolving threats,” the president said.
The trio’s formation comes as the U.S. and U.K. end their 20-year military involvement in Afghanistan, a decision Biden has said will allow the U.S. to focus on emerging threats from Russia and China.
The U.S. and U.K. will also assist Canberra in acquiring nuclear-powered submarines, which will allow Australia’s navy to help counter Chinese nuclear-powered vessels in the region.
“This will give Australia the capability for their submarines to deploy for longer periods, they’re quieter, they’re much more capable, they will allow us to sustain and to improve deterrence across the Indo-Pacific,” a senior administration official, speaking on the condition of anonymity, said ahead of the president’s remarks.
“What we see in the Indo-Pacific region is a set of circumstances where capabilities are more advanced,” the official added. “This allows Australia to play at a much higher level and to augment American capabilities.”
The U.S., Australia, and the U.K. plan to deepen technology sharing across emerging security arenas such as cyber, artificial intelligence, and quantum technologies. Alongside Canada and New Zealand, the three countries already share extensive intelligence through the Five Eyes alliance.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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