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'Geopolitical powder keg' Asia jacks up global military spending

SIPRI report shows Japan and Singapore raised defense budgets over 7% in 2021

China and India were the main drivers for the growth in Asia's defense spending, SIPRI said. (Source photo by Reuters and Getty Images)

TOKYO -- Global military expenditure surpassed $2 trillion for the first time in 2021, led by a rise in spending in Asia, according to a report released Monday by the Stockholm International Peace Research Institute.

The main drivers for growth in the Asia and Oceania region were China, which spent an estimated $293 billion, and India's $76.6 billion. The region's military spending expanded 3.5% -- more than Europe (3%), Africa (1.2%), the Middle East (-3.3%) or the Americas (-1.2%), according to SIPRI's report "Trends in World Military Expenditure, 2021."

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