Topic: Government Budgeting.
5) Amidst the expected future global financial and economic crisis, Military spending around the world still continues to boom. Discuss the factors driving such a boom, how would continued spending be justified in such an era?(250 words)
Why this question:
The article brings to us the findings of the report Stockholm International Peace Research Institute (SIPRI) that finds that the Total world military expenditure rose to $1,822 billion in 2018, representing an increase of 2.6% from 2017. Thus it is important from exam point of view to analyse the impact of these findings.
Key demand of the question:
The answer must provide for a detailed analysis of the findings and the impact it has on world countries and peace.
Discuss – This is an all-encompassing directive – you have to debate on paper by going through the details of the issues concerned by examining each one of them. You have to give reasons for both for and against arguments.
Structure of the answer
write a few introductory lines highlight the facts of the report.
Answers must discuss the following aspects:
- Comment upon the findings of the report, discuss its relevance.
- World military spending in 2018 represented 2.1% of global gross domestic product (GDP) or $239 per person. In 2018 the USA and China accounted for half of the world’s military spending.
- Analyse what is the trend like – discus how the spending boom is driven, above all, by the contest between America and China for primacy in Asia.
- Discuss the combination of factors that explain the increased military spending:
- Foreign policy objectives
- Real or perceived threats
- Armed conflict and policies to contribute to multilateral peacekeeping operations
- Availability of economic resources – refers to rapidly developing nations like China and India that have seen their economies boom in recent years. In addition, high and rising world market prices for minerals and fossil fuels (at least until recently) have also enabled some nations to spend more on their militaries.
- Conclude with significance of the report and what needs to be done?
Conclude with way forward.