The Global military spending for 2020 remains high despite the world has suffered from Covid 19 crisis. According to the annual report of the British Institute IISS released on Thursday, strengthening the capacity of China’s navy is an important part of spending on the global army still be high in 2020. The recession due to the Covid 19 crisis did not reduce global military spending by 2020. After about 4% increase in 2019, it will increase by almost 4% in 2020, according to the report of the International Institute for Strategic Studies (IISS).
According to the British Institute, military spending in the world has reached 1830 billion US dollars, despite the global crisis and the global economic crisis. . Nearly 2/3 of the world’s military spending is shared between the United States and China, with the United States spending about $ 738 billion and China is more than $ 193 billion, for 10 percent of global spending. It can be said that China is the driving force behind Asia’s military spending, or 25 percent of total spending of the world. According to the British Institute’s report, despite the slight economic slowdown due to the Covid 19, China has maintained its spending to strengthen its military capabilities like increasing the number of modern warships and submarines to compete for controlling the South China Sea.
The Conflict in the South China Sea, which attracted the United States to send warships to fly over the defense of the US ally, which is disputed party with China. This is one of the main reasons why both the United States and China continue to increase their military spending. In Europe, despite a sharp recession and rising debt due to the Covid crisis, no country has shown any intention to cut military spending. The IISS report estimates that many countries have restructured their military budgets to be able to divert some of the money to help with health crisis or to boost the economy, which has been falling by the Covid crisis. The change has been declining since 2023, but not this year and next. As of November last year, many governments have not expressed their intention to reduce the military budget for 2021.
