Report: Global Defense Spending Jumped to Record $2.2T in 2023

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Facts

  • According to the London-based International Institute for Strategic Studies, global defense spending reached a record $2.2T in 2023, up 9%. Due to the conflict in Ukraine, Israel's war with Gaza, and Indo-Pacific tensions, the figure is expected to climb this year.1
  • According to the report, NATO has witnessed an even greater rise. Since 2014, when Russia seized Ukraine's Crimean peninsula, non-US alliance members have raised military spending by 32%. 2
  • NATO spends close to 60% of the $2.2T, with the US holding a majority of that spending. Europe's military assistance to Ukraine has increased the total expenditure considerably.3
  • According to the report, 'The current military-security situation heralds what is likely to be a more dangerous decade.' The research cites rising Arctic tensions, North Korea's desire for nuclear weapons, and military regimes in the Sahel region as factors.4
  • The report stated that the 'just-in-time' philosophy that has dominated weapons manufacturing for nearly three decades is giving way to a just-in-case approach. However, changing production methods has proven to be a challenge.3

Sources: 1Al Jazeera, 2Independent, 3CTVNews and 4ABC News.

Narratives

  • Pro-establishment narrative, as provided by ABC News. Given Russia's invasion of Ukraine, Hamas' attack on Israel, and China's assertiveness in the South China Sea, global military spending has surged, generating global instability. The world spent $2.2T on weapons last year. This year will see an even greater increase in global defense spending, particularly if the West does not want Russia to win in Ukraine. Many governments are increasing weapons production and stockpiling to prepare for potential long-term conflicts.
  • Establishment-critical narrative, as provided by Orfonline.Org. The UN has failed with its basic purpose — to maintain international peace and security. The UN Security Council is paralyzed by more than dozens of military conflicts around the world, and the international body must act immediately to address them. In the absence of a strong UN, military spending is rising. The 'rules-based international order' is clearly not functioning well given the failure of its institutions to curb global arms spending and conflict.

Predictions