May 2, 2018

Military spending around the globe is on the rise

Military delegates arriving for the National People's Congress in China. Photo: Nicolas Asfouri/AFP via Getty Images

Global military spending rose by 1.1% in 2017 to $1.739 trillion, per ABC News, with military spending now accounting for 2.2% of worldwide GDP. The United States, China, Russia, Saudi Arabia and India together accounted for 60% of the world's overall military budget expenditures.

The big picture: This year's hike was fueled by increased spending in Asia — especially by China, India, and Saudi Arabia — highlighting the tensions as major regional players attempt further expand their spheres of influence.

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The coronavirus pandemic has had a big impact on working people, who are increasingly banding together to put pressure on employers and raise public awareness about health and safety issues they're facing on the job.

Why it matters: After years of declining union membership, a new labor movement is rising, amplified by the power of social media and fueled by concerns that workers deemed essential during the crisis are putting their lives at risk to ensure the well-being of others.

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Medicaid will be a lifeline for droves of Americans affected by the coronavirus pandemic.

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