World: 2017 World's Military Expenditure Highest Since The Cold War, Says SIPRI
A 2018 report by Stockholm International Peace Research Institute, SIPRI, suggests World's military expenditure in 2017 was staggering $1.73 trillion, the highest figure since the end of the Cold War.
According to the report, the biggest military spenders in 2017 were USA that spent $610 billion, followed by China and Saudi Arabia that spent $228 billion and $64.9 billion respectively.
Furthermore, the report says while increase in military spending in Central Europe and Western Europe in 2017 was partly due to perceived increasing threat from Russia, the latter's military expenditure during the same period fell by 20% to $66.3 billion.
The a colossal global military spending in 2017 that have in many countries been rationalized by abstract security threats, took place while millions of people in the world are still living in abject poverty in communities characterized by lack of adequate education and health services, lack of housing and even homelessness, hunger, lack of clean water supply, lack of electricity, etc.
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