US-China strategic rivalry and new technology propel global surge in military spending, IISS report says

Beijing’s military modernisation programme – which includes developing new hard-to-detect hypersonic missiles – has propelled US defence spending

Both the US and China increased spending by 6.6 per cent, the report said, to US$684.6 billion and US$181.1 billion respectively, report says

Reading Time:3 minutes

South Korean marines run from amphibious assault vehicles during a joint military exercise with US forces. Photo: AFP

Published: 11:14am, 15 Feb 2020Updated: 9:49pm, 15 Feb 2020

Global defence spending saw its biggest jump in a decade in 2019, driven by the US and China, a study said on Friday, as rivalries and conflicts stoke military investment.

The International Institute for Strategic Studies (IISS) said the 4 per cent rise, compared to a year earlier, was fuelled by competition between major powers, new military technologies and rumbling warfare from Ukraine to Libya.

Beijing’s military modernisation programme – which includes developing new hard-to-detect hypersonic missiles – is alarming Washington and helping drive US defence spending, the IISS said.

Its annual “Military Balance” report said the increase alone in US spending from 2018 to 2019 – US$53.4 billion – was almost as big as Britain’s entire defence budget.

“Spending rose as economies recovered from the effects of the financial crisis, but increases have also been driven by sharpening threat perceptions,” IISS chief John Chipman said, launching the report at the Munich Security Conference.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x