Global military spending grew for the eighth consecutive year in 2022 to an all-time high of US$2.24 trillion, with a sharp rise in Europe, chiefly due to Russian and Ukrainian expenditure, a Swedish think tank said Monday.
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Countries around the world are spending record amounts of money on their militaries. Inflation, Russia's war on Ukraine and US efforts to outpace China are major factors.
Countries around the world are spending record amounts of money on their militaries. Inflation, Russia's war on Ukraine and US efforts to outpace China are major factors.