[box type=”info” align=”” class=”” width=””]by Martin Armstrong, [/box]
The scale of the U.S. domination of the global military spending budget is highlighted in this chart using SIPRI data. Of all expenditure in 2020, the United States spent 3.7 percent of its GDP on defense – accounting for 39 percent of spending worldwide. No other country comes close, with China in second place with 13 percent. Saudi Arabia, further down this ranking, would be at the top of a list of countries spending the most as a share of GDP, far in front with 8.4 percent.
