Global military spending nearly hit $2 trillion in 2019 with China, India and Saudi Arabia among top five spenders
DEFENCE budgets have been plundered worldwide as military spending rocketed to nearly $2trillion last year, with China, India and Saudi Arabia among the top five spenders.
However, the economic crisis resulting from the coronavirus pandemic will probably disrupt future military spending, according to its researchers, whoThe five largest spenders in 2019, which accounted for 62 per cent of expenditure, were the United States, China, India, Russia and Saudi Arabia.In 2019, Russia was the fourth-largest spender in the world and increased its military expenditure by 4.5 per cent to $65.1 billion.
China and India were, respectively, the second- and third-largest military spenders in the world during 2019. There is no secret about how China plans to destroy American aircraft carriers if rivalry becomes war. Researcher Dr Nan Tian added: "Global military expenditure was 7.2 per cent higher in 2019 than it was in 2010, showing a trend that military spending growth has accelerated in recent years.
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