The Great Global Rearmament Ukraine and the Dangerous Rise in Military Spending

Nan Tian, Diego Lopes da Silva, and Alexandra Marksteiner

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In the days after Russia’s invasion of Ukraine, a host of countries announced momentous hikes in military spending. Canada and the United States both released plans for new military expenditures. So did Australia. So far, 29 European states have pledged more than a combined $209 billion in new defense funding—a figure that will almost certainly rise. The European Commission has declared that “investments will be needed to replenish the depleted stocks of military equipment,” and Josep Borrell, the EU’s top foreign policy official, has called for the bloc “to spend together, more, and better” on its armed forces.