In recent years, global military expenditure has increased again and is now comparable to Cold War levels. Recent data shows global spending at over $1.6 trillion, and despite the global economic conditions. It is still a 1.3% increase since 2008 when the financial crisis began,for example.
For some nations, they can increase their spending as they grow economically. For others, and there are geopolitical interests at stake.
The highest military spender is the US accounting for 41% of the world’s spending,more than the next top 14 countries combined, and more than all its potential enemies, or combined. But this represents a slight decline over previous years as other nations,especially China, increases spending and the US begins to very slightly feel budgetary pressures on its military spending.
This update includes updated figures, and graphs and charts exploring this further.
Read full article: World Military Spending
Source: globalissues.org