U.S. President Barack Obama on Thursday unveiled a new military strategy that aims to strengthen the country's military presence in the Asia-Pacific region despite fiscal constraints, adjusting troop structure to a new era of austerity.

"We'll be strengthening our presence in the Asia Pacific, and budget reductions will not come at the expense of this critical region," he said at the Pentagon, accompanied by Secretary of Defense Leon Panetta and Chairman of the Joint Chiefs of Staff Martin Dempsey.

The strategy directs the U.S. military to "rebalance towards the Asia-Pacific region," asking it to rely on existing alliances and expand its networks to include emerging partners.

Maintaining peace, stability, the free flow of commerce, and U.S. influence in this dynamic region will depend in part on an underlying balance of military capability and presence, according to the strategy.

The Middle East is also taken into consideration. The strategy foresees that U.S. defense efforts in the Middle East will be aimed at countering violent extremists and destabilizing threats, while emphasizing Gulf security and preventing the proliferation of ballistic missiles and weapons of mass destruction.

It also says the United States will "continue to place a premium on U.S. and allied military presence in -- and support of -- partner nations in and around this region."

This rebalancing will occur at Europe's expense. The strategy calls for an "evolved" U.S. presence in Europe. It says European countries have become "producers" of security rather than "consumers." Meanwhile, the United States will also maintain engaged with Russia, as well as its Article 5 duty as a NATO member.

"The new strategic guidance nicely balances the demands for continued U.S. global leadership with the reality of fiscal constraints. It correctly reorients U.S. military forces towards Asia, while simultaneously preparing for potential threats from the Middle East," said Dr. Nora Bensahel, deputy director of studies and senior fellow at the Center for a New American Security (CNAS), a Washington think tank.