Maritime policing and the defence premium

In this analogy, the Navy provides global maritime policing across a space that covers about 70 percent of the world's surface and often lies far from domestic institutions. Disruption at Hormuz, Malacca, Panama, or Suez can still have immediate consequences at home. Because no ally can be assumed to protect every national interest, a state must retain forces that can appear and act on its own behalf. Defence spending is the premium paid for a usable insurance policy. The appropriate percentage depends on the strategy and obligations chosen, so commitments, capabilities, and funding need an honest match.