Global defence spending up by 4% in 2019
London-based research institute, the International Institute for Strategic Studies (IISS) recently released its annual “Military Balance” report. It stated that Global spending on defence increased by four percent in 2019 and it is the largest growth in 10 years.
The increase is led by huge increases from the US and China. It also revealed that the defence modernisation of China led to higher defence spending by the US. Both China and the US increased their spending by 6.6 per cent, as per the report.