The US remains the world’s top spender, taking up more than a third of global military spending, according to a study from SIPRI
This is AI generated summarization, which may have errors. For context, always refer to the full article.
SIPRI noted that while China holds a nearly three-decade stream in the rise of military spending, the rate of its spending growth has slowed over the past decade. US spending includes military aid to allies, including Ukraine. The 2024 report covering the year 2023 was released just days before the US approved a $95-billion military aid package that includes funding for Ukraine, Israel, and to a much lesser extent, Taiwan. The bulk of the spending is for Ukraine, which has been fighting a Russian invasion for over two years already.
“The budget for 2023 also marked the first year of Japan’s biggest military build-up program since the end of World War II. Under the program, Japan aims to bolster its counterstrike capabilities by investing heavily in aircraft, ships and long-range missiles,” the report said.in the coming years, based on a five-year spending plan that would turn it into the world’s third-largest military spender.
Armed Forces Of The Philippines Maritime Security Philippines-China Relations Philippine News Editors' Pick National News
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zamboanga locals step up as Valientes stun China club in Asian tourneyHometown bets Mike Tolomia, Rudy Lingganay, Peter Alfaro, and Das Esa deliver as the Zamboanga Valientes upset China’s Ningbo Bulls in The Asian Tournament opener
Read more »
Valientes rout Ningbo Bulls to win The Asian Tournament openerThe Zamboanga Valientes drubbed the Ningbo Bulls to open their bid in The Asian Tournament on a high note, 82-75, in Guangdong, China.
Read more »
PH to host Southeast Asian Trail Running CupDefining the News
Read more »
Stock market today (April 23, 2024): Asian stocks track Wall Street gains ahead of earnings reportsHONG KONG — Asian benchmarks extended gains Tuesday after U.S. stocks clawed back a chunk of their losses from last week, which was the worst for the S&P 500 in more than a year, while the yen weakened further to fresh 34-year lows. U.S.
Read more »
Paris-bound Fil-Am gymnast to vie in Asian ChampionshipsDefining the News
Read more »
Asian stocks rise on earnings optimism as US data approachesAsian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity.
Read more »