What's happened
Global military spending hit a record high of $2.4 trillion in 2023, with all five geographical regions experiencing an increase for the first time since 2009. The United States led the way, spending $916 billion, over one-third of the total global military expenditure.
Why it matters
The surge in global military spending to a record high of $2.4 trillion in 2023 underscores the escalating geopolitical tensions and the need for nations to enhance their defense capabilities. This unprecedented rise in military expenditure reflects a volatile security landscape, with implications for global peace and security.
What the papers say
The New York Times emphasizes the impact of the war in Ukraine and rising tensions in Asia and the Middle East on the surge in global military spending. In contrast, Business Insider UK focuses on the significant increase in military spending across all five geographical regions since 2009, attributing it to the rise in global conflicts. The Guardian highlights the risks associated with the heightened military spending, warning of an action-reaction spiral in the volatile geopolitical landscape.
How we got here
The Stockholm International Peace Research Institute's annual report revealed that global military spending in 2023 reached $2.4 trillion, marking the highest level in 35 years. The surge was driven by the war in Ukraine, escalating tensions in Asia and the Middle East, and the United States' substantial military expenditure.
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