Our Independent Chairman of Investment Committee, Dr. William C. Greenwalt, recently testified before the Senate Committee on Armed Services on "Department of Defense responsibilities related to the Foreign Military Sales system and international armaments cooperation."
In his compelling testimony, Dr. Greenwalt argues that America's international arms cooperation system requires urgent reform to meet the challenges of great power competition. Created in the mid-1970s during the Cold War era of détente, today's system is built on outdated assumptions of American technological dominance and lacks the agility needed for today's security environment.
The testimony highlights how the current Foreign Military Sales (FMS) process operates as a "slow walk" that can take years to approve transfers, creating uncertainty for both allies and the U.S. industrial base. Meanwhile, America's adversaries—particularly the Russia-China-Iran-North Korea axis—face no such bureaucratic constraints in their arms cooperation.
Read the full testimony to learn how the US can enhance allied capabilities through streamlined Foreign Military Sales, revised export controls, and innovative production approaches.
