A New Framework for Financing Global Security

Rather than improving global security, surging military expenditure threatens to deepen geopolitical instability, destroy ecosystems, fuel arms races, raise conflict risks, and crowd out public investment in other priorities, not least development aid. It doesn't have to be this way. LONDON – Intensifying great-power rivalries have made increased defense spending a priority that few states dare to question. This growing sense of insecurity propelled global military spending, which increased by 37% from 2015 to 2024, when it reached $2.7 trillion – a sum almost equivalent to Africa’s entire GDP.