Blake Hall
After decreasing by 30 percent between 2006 and 2015, global military spending is back on the rise.
Throughout the course of 2015, about $1.7 trillion was spent on the world’s militaries. This increase was undoubtedly spurred by the ongoing conflicts surrounding the Islamic State, the South China Sea and Yemen.
Stockholm International Peace Research Institute announced Tuesday that the United States and the People’s Republic of China were the global leaders in military spending.
The United States, with $596 billion in defense spending, and China, with an estimated $215 billion, led all countries in 2015, the annual report by SIPRI said. Saudi Arabia, however, came in third with spending of $87.2 billion — double what it spent in 2006, according to the report. That fueled the first worldwide increase in military spending since 2011.
The U.S. is devoting its resources to fighting the Islamic State, and China bulked up its military to stake territorial claims in the South China Sea. Meanwhile, Saudia Arabia is pouring money into a war with Yemen. Add in a contentious nuclear arms deal with Iran, and several major military powers are stocking up on weapons.
Makes you wonder what 2016 will bring.