The risk-fleet concept could not be treated as a private Anglo-German calculation. A Germany strong enough to approach the British standard would threaten France's relative position and stimulate construction by Russia, Italy, Austria-Hungary, and the United States as well. Britain's two-power commitment would force it to answer German expansion and the resulting growth of other fleets. Tirpitz's target was therefore financially and strategically unstable within a many-power naval system.
Notable Point · 4:35-6:04
Why Tirpitz's risk fleet invited a wider arms race
A German fleet aimed at two-thirds of Royal Navy strength would also pressure France, Russia, Italy, Austria-Hungary, and the United States to build.