Global military spending continues to rise

Briefly: Global defence spending in 2022 increased for the eighth consecutive year to an all-time high of $2.24T, according to a Sweden-based think tank.

Here’s a snapshot of details that caught our eye:

  1. 🇯🇵 Japan’s defence spending hit 1.1% of GDP, its highest since 1960
  2. 🇸🇦 Saudi Arabia’s spending rose (by 16%) for the first time since 2018
  3. 🇪🇺 Spending in Central & Western Europe hit a new post-Cold War high
  4. 🇫🇮 NATO’s newest member (Finland) jacked its spending up 36%, and
  5. 🇺🇦 Ukraine’s 640% increase was the largest anywhere since 1949

The study attributes Japan’s spending growth to concerns about China and North Korea. And Saudi Arabia’s increase stems from its intervention in Yemen.

Intrigue’s take: As for Europe’s boost in defence spending? Expenditure there was already rising before Russia invaded Ukraine. But when a nuclear power and permanent member of the UN Security Council invades one of your neighbours, it’s no surprise when you decide to double down on that accelerator.

Also worth noting:

  • China’s military spending grew for the 28th consecutive year, the longest uninterrupted run of any country. Its 4.2% rate of growth was China’s second slowest growth rate since 1995 (the slowest was in 2021).
  • The US expanded its military spending by 0.7% last year. It spent more than the next ten countries combined.
Latest Author Articles
Western funding for Ukraine under pressure as the war approaches its third calendar year 

The White House warned in a letter to Congress yesterday (Monday) that military and economic assistance to Ukraine will run out by the end of the year without additional funding. Failure to allocate new money would “kneecap Ukraine on the battlefield”, according to budget director Shalanda Young.

5 December, 2023
Court forces Panama to shut a key copper mine

Panama’s Supreme Court ruled unanimously (🇵🇦) on Tuesday that the law behind the country’s vast Cobre Panama copper mine was “unconstitutional”.

30 November, 2023
BBC report alleges COP28 host UAE used host status to source oil and gas deals

Documents leaked to the Centre for Climate Reporting suggest UAE officials have sought to leverage their COP28 host country status to push for oil and gas deals, just as the UAE kicks off the COP28 climate talks in Dubai this Thursday.

28 November, 2023
An Israel-Hamas ‘hostages-for-pause’ deal?

Hamas may soon agree to release 50-100 women and children being held as hostages in Gaza, according to Israeli, Qatari, and American officials.

21 November, 2023