The Ronin
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America and China are committing vast sums to their armed forces.
THE WORLD is arming itself to the teeth. That is the conclusion of a new report published on April 29th by the Stockholm International Peace Research Institute (SIPRI), a think-tank. Global military spending last year rose to $1.8trn, says SIPRI—the highest level in real terms since reliable records began in 1988, during the cold war, and 76% higher than in 1998, when the world was enjoying its “peace dividend”. Military spending as a share of global GDP has fallen in recent years, but that offers little reassurance in a world of rising geopolitical tension.
The spending boom is driven, above all, by the contest between America and China for primacy in Asia. Start with America. In 2018 it raised its already-gargantuan defence budget for the first time in seven years, ending an era of belt-tightening imposed by Congress. The boost reflected the Trump administration’s embrace of what it calls “great power competition” with Russia and China—requiring fancier, pricier weapons—in place of the inconclusive guerilla wars it had fought since 2001.
Full details:- https://www.sipri.org/…/files/2019-04/fs_1904_milex_2018.pdf
https://www.economist.com/internati...Al6nyx7qovWc-eG9_1YhhFM--VT_vOrtw3jKN_NlgEqAs
THE WORLD is arming itself to the teeth. That is the conclusion of a new report published on April 29th by the Stockholm International Peace Research Institute (SIPRI), a think-tank. Global military spending last year rose to $1.8trn, says SIPRI—the highest level in real terms since reliable records began in 1988, during the cold war, and 76% higher than in 1998, when the world was enjoying its “peace dividend”. Military spending as a share of global GDP has fallen in recent years, but that offers little reassurance in a world of rising geopolitical tension.
The spending boom is driven, above all, by the contest between America and China for primacy in Asia. Start with America. In 2018 it raised its already-gargantuan defence budget for the first time in seven years, ending an era of belt-tightening imposed by Congress. The boost reflected the Trump administration’s embrace of what it calls “great power competition” with Russia and China—requiring fancier, pricier weapons—in place of the inconclusive guerilla wars it had fought since 2001.
Full details:- https://www.sipri.org/…/files/2019-04/fs_1904_milex_2018.pdf
https://www.economist.com/internati...Al6nyx7qovWc-eG9_1YhhFM--VT_vOrtw3jKN_NlgEqAs
