Surging global military spending

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Climate change, lingering inequalities and the resulting deprivations prevalent around the world need more attention and greater resource commitments. However, what we are seeing instead, in our tumultuous world, is a rise in military spending.

Amidst ongoing crises within the Middle East, Russia's war in Ukraine and rising geopolitical tensions due to great power competition, countries around the world are funneling more funds towards defence spending at a pace unmatched since the end of the Cold War. According to the latest estimates by the Stockholm International Peace Research Institute (SIPRI), military expenditure worldwide rose by 9.4% in 2024 alone.

Despite cumulative military expenses having exceeded $2.7 trillion, SIPRI estimates that many countries are now poised to boost military capabilities, which will lead to even higher defence budgets in coming years. While it would certainly take much less money than is being poured into already bloated defence expenditures to vastly improve the lives of all marginalised people around the world, the desire to continue investing in conventional security seems a more urgent priority for those in positions of power.

The US remains the world's largest defence spender, which allocated nearly $1 trillion to its war machinery in 2024. While China ranked second in overall military expenditure in the same year, with its allocation estimated to be under a third of what the US spent. However, put together, these two great powers are responsible for almost half of the global military spending during this past year.

Other significant defence budget spikes occurred in countries which are either actively engaged in conflicts, or else, are anticipating the possibility of conflict soon. Israel, for instance, increased its defence spending by 65% during 2024 as it continued its assault on Gaza, and beyond. Russia's defence budget also grew by at least 38% in the past year.

Due to Russia's ongoing conflict in Ukraine, most NATO countries have now also increased their military commitments, partly in response to Russia's belligerence, as well as due to President Trump's pressure on Europe to assume more responsibility for its own defence. Germany, for instance, increased spending on defence by 28% in 2024, and is poised to continue building up its military capabilities in the coming years.

Within the Indo-Pacific region, China's growing military might has also triggered other regional powers like Japan to begin paying more attention to defence also. Japan's military budget rose by 21% last year, which is its highest hike in over seventy years. Even smaller countries like the Philippines have begun spending more on defence prompted by ongoing territorial disputes with China in the South China Sea. On the other hand, India was again found to be the world's fifth-largest military spender during this past year.

While India's defence spending has grown by 42% over this last decade, SIPRI points out that it spends nine times more than Pakistan on its military. Given renewed tensions, Pakistan may be compelled to raise its military expenditures too, despite its economic woes, which will invariably lead to lesser resources available for catering to the unmet needs of its citizenry.

Unfortunately, the ongoing global spike in military expenditure is being accompanied by major cuts in aid for human development. USAID, the largest bilateral donor, has been gutted by the incoming administration. Many other rich European counties have begun slashing their aid budgets too, partly in the effort to divert these funds to defence, without imposing direct pain on their own citizens.

However, the increasingly integrated nature of the world implies that increased deprivation, diseases or destabilisation in one part of the world can no longer be easily contained. Yet, global leaders continue pouring in more money into their defensive and offensive capabilities, instead of trying to make the world a fairer and more habitable place.