Global military expenditures eclipse US$2 trillion in 2021 for first time ever
STORY BY STEPHEN J. THORNE
The fiscal ravages of the pandemic had little practical effect on worldwide military spending in 2021, as it passed US$2 trillion (C$2.5 trillion) for the first time, the Stockholm International Peace Research Institute reported on April 25.
The list of the five biggest spenders bore no surprises: the United States led the way, followed by China, India, the United Kingdom and Russia. Together, they accounted for 62 per cent of all military spending, said the institute.
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