It is going to take awhile for people to understand what this means, and by that I am talking about the broad ramifications.
Moving away from the Two War Strategy changes everything when taking a strategic view... EVERYTHING.
Most importantly for the Navy, what it does it gives a real opportunity for strategic planners to shape decisions around economy, and I am not talking about budget. It is no longer a 'risk' to shape naval forces around the idea of protecting economic interests globally, because the Navy will only be taking 'risks' now when the force level is insufficient to engage the single largest competitor - China.
The US Navy is a long way from that. It used to be the Navy had to plan to fight both Russia and China at the same time, for example, but those aren't the planning metrics of the Navy anymore. In theory, a very wise maritime strategist could easily make the case (particularly during tough economic times) that the Navy should grow as a result of this decision. I know, people think that is counter intuitive.
You see, decisions ahead will now have to answer difficult questions like how the US will prevent wars between other nations instead of fighting 2 wars against other nations. Just asking that question is a sea change in defense planning. It will take time for people to realize what this change means, but expect some to freak out and think this means shrink the Navy.
It doesn't, but it could mean shrink the Army.
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