NOT since the end of World War II has the world witnessed a consistent spike in defence spending across the major regions of the world.
According to an annual study by the Stockholm International Peace and Research Institute (Sipri), "World military expenditure increased for the ninth consecutive year in 2023, reaching a total of US$2443bil. The 6.8% increase in 2023 was the steepest year-on-year rise since 2009 and pushed global spending to the highest level Sipri has ever recorded."
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