The M1A1/A2 Abrams and variants were kept in service while older M1s joined the national guard and replace the former M60 and M48 still in the inventory. Just like Russia and the successor states were left with tens of thousands of obsolete and worn-out tanks and limited budgets, the US Army/Marine ground assets were to be seriously reduced in a concerted manner. The old trusted “battle taxi”, the M113, was also silently but surely out of register, also without a real replacement in view Ground Forces nowadays relies -also dictated by the experience of the longest war faced by the United States since Vietnam- by wheeled vehicles: The Stryker family, the Hummer, and numerous MRAPs/MPVs which reflects the need for vehicles adapted to the urban environment and asymmetric warfare. No real replacement program has ever taken place. The iconic main battle tank is dating back from 1978, that’s almost 40 years from now! A good indication for that is the fate of US Modern tanks: Like the M1 Abrams. This had tremendous consequences however for the Pentagon policies (and the military-industrial complex), as there was no more incentive under the eyes of the Senate and general public to maintain a huge defense budget. Not in a cataclysmic end, but almost peacefully by the dislocation of the whole Soviet block. The nuclear Damocles sword of the cold war was lifted in 1990.
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Citi remains deeply committed to Vietnam, and we will invest further to support institutional clients locally and across our global network. The Malaysia and Thailand business sales were completed on Nov 1, 2022.Ĭitigroup Asia Pacific CEO, Peter Babej, noted, “Today’s announcement is positive for our customers, our colleagues and our firm. Citigroup had expected the transaction to release $1.2 billion of allocated tangible common equity and increase tangible common equity by more than $200 million. The transaction was announced in January 2022 as part of a broader sale agreement covering consumer banking businesses across Malaysia, Thailand, Vietnam and Indonesia, and excluding the bank’s institutional businesses.Īt the time of the announcement, the wall street biggie noted that UOB would pay Citigroup cash consideration for the net assets of the acquired businesses, subject to customary closing adjustments, along with a premium of S$915 million (US$690 million). The transaction is anticipated to result in a modest regulatory capital benefit to Citigroup. The sale also includes the transfer of approximately 575 related staff. C announced the completion of the sale of its Vietnam retail banking and consumer credit card businesses to United Overseas Bank Limited or UOB. |
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