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Rheinmetall is getting a good deal out of this, but they are very well integrated within the U.K. anyway” said Ed Arnold, who has tracked the bilateral relationship at the London-based Royal United Services Institute think tank. ... The pact marks a “strong foundation” for boosting cooperation in the future, Arnold said, including on jointly researching long-range missile technology. ... “[The pact] creates a lot more U.K.-German touch points both bilaterally and through NATO in areas where the two sides are strong already,” said Arnold.

It is indicative of a collective movement away from the West, a demonstration of a fundamental shift within the world order that is seeking to challenge Western economic hegemony,” Callum Fraser, a research fellow in Russian and Eurasian security at the Royal United Services Institute (RUSI) think tank, told CNBC Monday. Fraser added that it was “still unclear to what degree BRICS+ will be able to challenge the Western-dominated G7, or even to what degree they are able to align their visions of the international system.”