Record military spending in the world over the past decade

A study of military and defense spending around the world found that record military spending was recorded globally in 2019 over the past decade, with China and India joining for the first time.

According to a report released by the Stockholm International Peace Research Institute (SIPRI) in Sweden, countries around the world spent a record 1. 1.9 trillion in military spending in 2019.

Compared to 2018, these worldwide expenditures have increased by 3.6% annually, the highest since 2010.

"This is the largest expenditure since the global recession of 2008," said Nin Tian, ​​a researcher at SIPRI.

Individually, the United States tops the list, spending 73 732 billion in 2019 alone, an increase of 5.3 percent.

Last year, the United States accounted for 38 percent of global military spending, the second consecutive year in a seven-year decline.

According to the study, for the first time, two Asian countries, China and India, were included in the list of the highest military expenditures in the world.

China and India spent 26 261 billion and 71 71.1 billion, respectively, in 2019, an increase of 5.1% and 6.8%.

"China has openly stated that it wants to compete with the United States as a military superpower," he said.

Looking at China's spending over the past 25 years, it has grown in line with economic growth and reflects China's intentions for a 'world-class military'.

Simon Weizmann, another SIPRI researcher, said that "India's spending has increased due to tensions with rival countries, both Pakistan and China." Elsewhere in Asia, Japan spent .6 47.6 billion and South Korea 43 43.9 billion, much higher than in the past.

According to the report, military spending in Asia has been steadily rising since 1989. Effects of Corona virus on military spending

Russia and Saudi Arabia are among the world's largest military spenders, accounting for more than 60 percent of total spending.

According to SIPRI, Germany spent a staggering 10% in 2019, amounting to 49 49.3 billion, the highest rate among the top 15 countries.

The report says an increase in German military spending could also increase Russia's threat.

"Military spending has risen sharply in recent years," he said, adding that the trend could be offset by the Corona virus epidemic and its economic impact.

He said that as the world was heading towards recession, governments would have to increase spending on education and health instead of military spending.

"This is expected to have an impact on military spending," Nan Tian said. Referring to the past, he said that military spending had declined since the 2008 economic crisis, especially in Europe, and lower spending measures had been taken.

"We can see a reduction in these costs in one to three years, and then it will increase again in the coming years," he said.