A report by the International Institute for Strategic Studies (IISS) has found some significant annual increases in government spending on arms in 2024. Global defence spending jumped nearly 10% to US$2.46 trillion last year. The report drew a link between the rise in spending and increasing geopolitical tension. The two largest spenders, the US and China, made up around half the total expenditure. Russia was the third largest military spender. Olly Barratt reports from London and Olivia Siong reports from Beijing, while IISS senior fellow Collin Koh shared more about China’s military modernisation and the Russia-Ukraine war.
