Australia Cuts Defense As US Imports Cheapen

By Bradley Perrett .

BEIJING — The fall of the U.S. dollar is helping Australia to lop A$4.3 billion ($4 billion) from its defense spending over the next four years.

Capital spending, determined by the timing of acquisitions as well as the lower price resulting from changes in exchange rates, will be A$2.4 billion lower than previously planned, says Defense Minister Stephen Smith. Because some ...

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