China's Military Spending Reaches Highest Level in the South China Sea

Economics & Macro

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10/10/2016 11:35 WIB

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Defense Budgets of South China Sea Countries in 2020

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Defense Budgets of South China Sea Countries in 2020

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Indonesia's defense budget lags behind China's, which reached US$233.7 billion in 2020. Rising geopolitical tensions in the South China Sea will fuel defense spending growth in Asia-Pacific countries. According to IHS Inc. data, the Asia-Pacific region's defense budget in 2020 is projected to increase by 23 percent to US$533 billion from US$435 billion in 2015.

IHS Jane's Director, Paul Burton, predicts that in 2020, the global defense spending landscape is expected to gradually shift from developed nations in Western Europe and North America to developing countries, particularly in Asia.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."