America’s military spending is almost two-fifths of the world’s total and more than the next ten countries combined
ACROSS THE world, the face of pandemic response has been not just the doctor, nurse and scientist, but also the soldier. Armies have built hospitals, enforced lockdowns and joined the hunt for a vaccine. That is not the usual business of soldiering, but armed forces must earn their substantial keep. Over $1.
Moreover, America also widened the gap with second-placed China, which upped spending by 5.1% to $261bn, equivalent to just over a third of America’s total. However, some experts argue that China’s opaque military budgeting means that its spending is consistently underestimated, and that SIPRI’s use of market exchange rates disguises the lower wages and cheaper prices available to lower-income countries.
Notably, no western European country stands in the top five. Britain and France, once reliably in the top rank, and Germany, which is gradually rearming, each spent around $50bn or so. But closer to Russia’s borders, budgets are swelling. Spending in central Europe was up by 14%, driven in large part by free-spending Poland.
In these circumstances, political leaders are likely to face pressure to spend more on health and social safety-nets, and less on weapons. “We’re seeing signs that governments might begin delaying major acquisitions,” says Michael Formosa of Renaissance Strategic Advisors, a consultancy, which would leave smaller firms short of cash. “There's a very good chance that key parts of the supply chain will be distressed or in trouble in the very near term.
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