Global military spending at new post-Cold War high, fueled by U.S., China: think-tank
The Stockholm International Peace Research Institute (SIPRI) is warning that countries across the world spent more on their armies last year than they did at any point since the Cold War ended. Worldwide military spending reached $1.82 trillion in 2018, a 2.6% increase over the year before.
For the US and China, the two biggest spenders, military expenditure increased more than the average, namely 4.6% for the US and 5.0% for China. However, US spending still dwarf that of all other countries. It’s expenditure comprises 36% of global military spending and is similar to the combined spending of China plus that of the next 7 biggest spenders.