SIPRI’s annual report, released Monday, said global military expenditure reached $2.72 trillion in 2024, a 9.4% increase from 2023 and the largest year-on-year rise since the Cold War's end. This marks the tenth straight year of growth.
Defense spending is rising across East Asia as China’s expanding military power fuels regional concerns, according to a new report by the Stockholm International Peace Research Institute (SIPRI).
The world’s five biggest military spenders, the United States, China, Russia, Germany, and India made up 60% of total spending, combining for $1.64 trillion.
Spending in Asia and Oceania reached $629 billion in 2024, up 6.3% from 2023, with East Asia alone seeing a 7.8% jump to $433 billion.
China accounted for half of Asia’s total defense spending, with an estimated $314 billion, a 7% increase from 2023, and its largest annual rise since 2015. This marks the 30th consecutive year of growth, as China pushes to modernize its military across all domains by 2035.
China’s buildup has led neighboring countries to bolster their own defenses. Japan raised its defense budget by 21% to $55.3 billion, its biggest increase since 1952, lifting defense spending to 1.4% of GDP, the highest since 1958. Japan’s plan focuses on enhancing long-range strike and air defense capabilities through 2027.
Meanwhile, Taiwan boosted its military spending by 1.8% to $16.5 billion, allocating a significant portion to upgrade F-16 jets, purchase U.S. naval systems, and develop anti-drone technologies amid heightened tensions with China.
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Canada and China have signalled a reset in bilateral relations during Prime Minister Mark Carney’s first official visit to Beijing, with both sides highlighting progress toward closer cooperation after years of strained ties.
China recorded the world’s largest-ever trade surplus in 2025, reaching $1.2 trillion as exporters shifted focus away from the U.S. amid ongoing trade tensions.
China is stepping up efforts to promote technology-enabled elderly care, aiming to improve the health, safety and overall wellbeing of its rapidly growing senior population.
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Saudi Arabia has informed Iran that it will not allow its territory or airspace to be used for any military action against Tehran, according to two sources close to the kingdom’s government cited by AFP.
Sweden is sending a group of military officers to Greenland at Denmark’s request, Prime Minister Ulf Kristersson said on Wednesday, as Nordic countries and NATO allies step up coordination around the Arctic territory.
Romania has reiterated its openness to discussions on a potential unification with neighbouring Republic of Moldova, following recent remarks by Moldova’s president.
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Military power is again shaping international politics as rivalry intensifies and security assumptions erode, pushing states to place renewed emphasis on readiness, deterrence and visible capability.
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