2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Israel
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Italy
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Nepal
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China
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Detailed explanation-1: -Beijing announces a lower than expected GDP target of “around 5%” for 2023. China’s government on Sunday announced a hike in defence spending by 7.2% to $225 billion in 2023, saying the rise was needed to deal with “complex security challenges”.
Detailed explanation-2: -Its commitment of 3.45% of GDP is one of the largest in the advanced world, exceeded only by Israel (4.5%) and by both Russia (4.06%) and the Ukraine (33.5%). The new appreciation of the threat from Russia has led to an increase in military spending in Western Europe (3% after inflation).
Detailed explanation-3: -The 10 largest military spenders are the US ($877 billion), China ($292 billion), Russia ($86.4 billion), India ($81.4 billion), Saudi Arabia ($75 billion), UK ($68.5 billion), Germany ($55.8 billion), France ($53.6 billion), South Korea ($46.4 billion) and Japan ($46 billion).