‘2019 Records Highest increase in global defense budget in last 10 years’, Report Reveals
This growth equalled the European defence budget in 2008 before the global financial crisis.
A study recently revealed that global spending on defence has increased by 4% in 2019. This is the biggest growth noted in a decade. An increase in the defence budget was observed in countries like China and the United States.
Beijing’s military modernization program includes new hard-to-detect hypersonic missiles. This upset Washington and played a part in driving the US’ defence spending.
The International Institute for Strategic Studies’ (IISS) yearly ‘Military Balance’ report said that the increase in the US defence budget alone was $53 billion in 2019. This is almost as big as Britain’s entire defence budget.
China and the US increased spending by 6.6%, while Europe stepped up by 4.2% mainly due to the ongoing concerns about Russia. This growth equalled the European defence budget in 2008 before the global financial crisis occurred and the budgets got cut down.
European NATO members have increased their spending to satisfy President Donald Trump, who has often accused them of freeloading on the US. The US President has criticized European allies, especially Germany, for not living up to the 2014 NATO promise, which stated to spend 2% of GDP on defence.
Trump’s furious overspending has raised eyebrows about his commitment to the transatlantic alliance. This led to an explosive 2018 summit, where he launched a public attack on Germany in a meeting with Chancellor Angela Merkel. The meeting was broadcasted on live television.
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