Global Defense Spending Will Reach $1.547 Trillion In 2014

A visitor to a military exhibition in New Delhi, India, on Feb. 6. Global military spending is expected to increase this year for the first time in five years. The biggest increases are expected in China and Russia. Anindito Mukherjee/Reuters/Landov

Global Military Spending Set To Rise In 2014 -- Sarah Wolfe, NPR

After years of decreases, military spending is in 2014 for the first time in five years.

And the rising defense budgets of China and Russia are a key reason why.

The substantial increases in defense spending in Russia, China, India and , among other countries.
Total global defense spending is expected to go up 0.6 percent this year to $1.547 trillion, compared to $1.538 trillion last year.

While the remains the world's largest military player, China's planned defense spending in 2015 is expected to outstrip Britain, Germany and France's combined budgets.

Russia, meanwhile, is expected to spend 44 percent more on its military over the next three years — the largest increase of any country .


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My Comment: Not quite a global arms race .... but it is getting there.