Will the Top-10 military spenders cut their expenses and help poor?
The world military spending is $.1.74 trillion as per the 2017 estimate. Military spending is not only money spent on weapons; it includes spending on wages, pension, equipment, research and development.
Moreover, when the countries are increasing their military budget, it escalates tension and reduces the chance of peace.
Big Military Spending Countries
The top-10 countries with the highest military spending accounted for nearly three quarters (73%) of this total.
1) USA
2) China
3) Saudi Arabia
4) Russia
5) India
6) France
7) UK
8) Japan
9) Germany
10) South Korea
In that US military spending alone estimated as a mammoth $ 610 billion.
It is estimated that $ 175 billion is required every year to lift the people who are living below the poverty line – i.e. just ten per cent of the total military spending.
By
Srini