The United States and China account for almost half of the world's military spending, report says
The world saw a military spending boom in 2018, driven largely by the United States and China, which now account for almost half of the world's military expenditure, the Stockholm International Peace Research Institute said in a new report.
Global spending on defense hit $1.82 trillion in 2018, up 2.6% on the previous year and the highest figure since 1988, the first year that reliable global data was available, according to the Swedish think tank.The United States -- which retains its title as the world's biggest military spender -- raised its spending for the first time in seven years to $649 billion in 2018. The US spent almost as much on defense in 2018 as the next eight countries on the list combined, the report said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US reportedly warns China over hostile non-naval vessels in South China SeaThe head of the U.S. Navy has warned China that hostile behavior from its coast guard and fishing boats will not be treated any differently from the Chinese navy, the Financial Times reported on Sunday.
Read more »
China slams US on Iran oil sanctions, Saudi Arabia welcomes US moveBeijing said Washington's decision to impose sanctions on buyers of Iranian oil will 'intensify turmoil' in the Middle East. The US said on Monday it will penalise any imports of Iranian oil from May 2.
Read more »
Marco Rubio warns China is 'trying to fool the world again,' threatening U.S. military, trade dominanceMarco Rubio penned a withering critique of China's 'zero-sum game' strategies, warning of its plans to replace the U.S. as the most powerful nation on earth.
Read more »
US and China need to show 'flexibility' on trade talks, says World Economic Forum'I think they are now pretty close to the moment where there will be a breakthrough,' Børge Brende, president of the World Economic Forum, told CNBC's 'Capital Connection' on Sunday.
Read more »
China reportedly uses satellites built and financed by US companies to connect military operationsChina makes use of nine satellites in orbit around the Earth, built by American companies, to boost government capabilities, the WSJ reported.
Read more »
China complains to U.S. over end to Iran oil sanction waiversChina's Foreign Ministry said on Tuesday it has formally complained to the ...
Read more »
China lodges representations with U.S. over end to Iran sanction waiversChina's Foreign Ministry said on Tuesday it has lodged representations with...
Read more »
Scientists with ties to China ousted from US cancer center amid fears of foreign influenceA leading cancer research center in Texas took action against a handful of faculty members for sharing confidential information and failing to disclose foreign ties, it says.
Read more »
Top U.S. officials to hold trade talks in China next weekU.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchi...
Read more »
Dow futures slightly higher amid fresh optimism on US-China trade talksU.S. stock index futures were slightly higher Monday morning, as market participants prepared for another day of corporate earnings and fresh data releases.
Read more »