Why global military spending is on the rise

6:58 AM ET Mon, 26 Aug 2019

In 2018, worldwide military spending hit $1.8 trillion, the largest amount since the end of the Cold War and 75% higher than 1998's post-Cold War spending low. China's rise, a U.S. spending ramp up after years of defense cuts, and Russia's resurgence have all played a major role. Does 2018's record spending mean the world is bound for a new era of great power conflict?