World Insights: Europe ramps up military spending amid rising security anxiety

BRUSSELS, May 2 (Xinhua) -- Driven by a surge in European defense budgets, global military expenditure soared to a record 2.72 trillion U.S. dollars in 2024, according to the Stockholm International Peace Research Institute (SIPRI). Europe spearheaded the upward trend, with defense expenditures skyrocketing 17 percent to 693 billion dollars -- the sharpest regional increase and the highest level since the end of the Cold War. Analysts say the surge in military spending reflects Europe's growing