Global Military Spending Booming: The Economist

Global military spending, now at US$1.8 trillion, is set to keep rising as superpowers like the United States and China upgrade their arsenals to respond to geopolitical tensions. The US budget expands, reaching 36 percent of the worldwide military expenditure in 2018. While China’s spending does not approach the exorbitant US numbers, it has risen rapidly under Xi Jinping, especially for the navy. India, South Korea and Japan have responded with their own budget increases, and Asian military spending is now 28 percent of the world’s military expenditure. Elsewhere, European spending has increased, while spending in Africa, Russia, and the Middle East has fallen. – YaleGlobal

Global Military Spending Booming: The Economist

Stockholm International Peace Research Institute finds global defense spending highest since Cold War due to competition in Asia between America and China
Monday, May 27, 2019

Read the article from the Economist about global military spending.

rise of global military spending since 2009

(Source: Stockholm International Peace Research Institute)

Copyri© The Economist Newspaper Limited 2019. All rights reserved.

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