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When it comes to "hard power," the West is in steep decline. Virtually every nation in Europe is cutting its defense budget. Japan refuses to spend more than 1% of its gross domestic product on defense. And Australia is slashing its military budget, leaving it at just 1.5% of GDP, the smallest ratio in more than seven decades. Now add in the cuts of more than $800 billion in current and planned spending on U.S. defenses, with the prospect of nearly $500 billion more over the next 10 years. The result is a Western defense capability that is rapidly shrinking in size, has too little invested in future technologies and is increasingly wary of any conflict that would require sustained operations.