News Snapshot:
The International Institute for Strategic Studies (IISS) said military spending reached US$1.8 trillion last year, a 3.9% increase in real terms over 2019. Global military spending, driven in part by Chinese naval expansion, reached record levels in 2020 despite the impact of the coronavirus pandemic and ensuing economic contraction, a British think-tank said on Thursday. The International Institute for Strategic Studies (IISS) said military spending reached US$1.8 trillion last year, a 3.9% increase in real terms over figures for 2019. The London-based think-tank said in its annual Military Balance publication that expenditure rose despite the coronavirus pandemic and the subsequent...
