The latest report of the International Institute for Strategic Studies (IISS) paints a worrying picture of instability and an era of contested power. According to the IISS, global military spending reached a new high of $2.2 trillion, a 9% increase since 2022. The reason for this is because of recent events such as Russia invading Ukraine, China’s military modernization, conflict in the Middle East, and military coups in Africa.
The war on Ukraine pressures other nations to increase defense budgets. The member nations of NATO increased spending by 32%, making this the second consecutive year of growth and contributing to over 50% of the world's military spending. Because of the war, Russia has increased military spending by 30%, which accounted for 7.5% of the country's GDP. China has increased its military spending for the 29th consecutive year, due to its ambition of creating a “world-class” military by the middle of the century.
The United States continues to be the world's top military spender. In 2023, the United States had a military budget of $900 billion, which is greater than the top 15 countries combined. Compared to previous years, from a GDP standpoint, the United States military spending is 3.36% less than in previous eras such as the Cold War.
The global arms race raises a serious concern about the political state of the world. Increased military spending and an increase in tension between nations increase the risk of international conflict. Increasing spending on defense systems also means cutting back on other areas such as healthcare, education, and public services.
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4 comments:
This is super interesting. It definitely forecasts a worrisome future going froward but nations must act in their own self interest. I think it makes sense and you can't fault the NATO nations for having spent so much on military spending with Russia's moves, especially increasing their military spending by 30%. At the end of the day though, nobody is touching the US when it comes to spending or actual fire power.
NATO nations' increased defense budgets up by 32% underscore a trend of heightened international competition. As military spending competes for resources with healthcare and education, it really raises concerns on ethics and regarding a risk of conflict.
I wonder how much of this defense spending is reflected in foreign aid? Is the large increase in defense spending countries re-arming their military, or is it just aid to the multiple conflict regions around the world?
It's interesting to see how recent geopolitical events, including Russia's invasion of Ukraine, China's military modernization, conflicts in the Middle East, and military coups in Africa, have contributed to the surge in global military spending.
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