Is a new Cold War about to begin? The entire world stares at a bleak future with signs of a global arms race emerging.
New Delhi: Russia, Australia, China and Taiwan have increased their defense budgets in recent times.
Questions are now being raised whether an arms race has started once again in the world. Is this arms race the start of a new cold war in the world?
After all, why the countries of the world increased their defense budget. What are the big reasons for this? What will be its far-reaching consequences. Who is responsible for this? What is India's strategy? Will the increase in defense budget also end the dream of eradicating poverty in the world? What are the circumstances responsible for this?
Let us know about the defense budgets of 5 major countries of the world. Let's know which country spends how much on defense.
What is the reason for global increase in defense budgets
After the end of the Cold War, it seemed that the global arms race will come to a natural end.
After the collapse of the former Soviet Union, it was expected that the developed and developing countries of the world will now turn towards human welfare schemes instead of arms race.
The way Russia and USA took steps towards reduction of arms, this dream was turning into reality.
Now of course this question is important that the attention of developing countries will now be focused on the eradication of poverty, education and health in their country apart from the defense budget.
It can be said that the changing international scenario has once again put the world in trouble.
China's expansionist policy has once given rise to a new global arms race. China's increasing dominance in the South China Sea, the Indo-Pacific region and China's aggressive attitude in Taiwan and Eastern Ladakh have further exacerbated this crisis.
This crisis has deepened due to China's desire to become a superpower. The world has once again plunged into the arms race.
The changing strategic equation has created a big challenge in the field of security in the world.
This has also affected the defense budget of many countries. Defense budgets of many countries of the world have increased.
Report of the Stockholm International Peace Research Institute
According to the Stockholm International Peace Research Institute, which monitors the world's military budget to the changing methods of defense, in the year 2019, the defense budget of the whole world was $ 1917 billion, it was 3.6 percent more than the previous year.
India is included in the top 5 countries of the world in terms of defense budget.
According to Stockholm's list, the amount of money spent by the top 5 countries on their defense budget is about 62 percent of the total budget of the world.
Defense budget of top 10 countries of the world
USA: The USA at the top position in terms of defense budget. It spent $732 billion on the defense budget in 2019. The US spends 3.4 percent of its GDP only on defense.
Not only this, the USA is also the largest manufacturer of weapons in the world. Export of weapons play a big role in its economy.
China: India's neighboring country China is in second place. China's defense budget is more than $261 billion. China spent 1.9 percent of its GDP on its security. China has started an arms race with India amid escalating tensions in eastern Ladakh.
India: India ranks third in terms of defense budget. Its defense budget is above $71.1 billion. Due to the strategic challenge from Pakistan and China, India spends 2.4 percent of its GDP on defense. India has to protect both its eastern and western borders.
Russia: Russia ranks fourth in terms of defense budget. Russia's defense budget is above $65.1 billion. Russia's defense budget accounts for 3.9 percent of its GDP. Russia spends more on its defense budget due to tensions with the US.
Saudi Arabia: Saudi Arabia spends eight percent of its GDP on its defense budget. Saudi Arabia's defense budget is above $61.9 billion. It is ranked 5th in the world in terms of defense power.
Saudi Arabia is the only country in the list of top 10 countries in the world, which spends the largest part of its GDP on defense budget.