from businessinsider.com: The US continues to hold the indisputable top spot in defence spending, designating more than the combined expenditures of the top 15 nations according to an annual report from the International Institute for Strategic Studies.
The IISS’ Military Balance, published earlier this month, assesses the military capabilities and national trends in defence spending of 171 countries.
According to the report, America allocated a cool $US581 billion in 2014, surpassing the total combined Chinese, Saudi Arabian, Russian, British, French, German, Japanese, Indian, and South Korean military budgets by $US15 billion.
China is the closest nation to follow the US at $US129 billion — which is only 22% of America’s overall spending. The remaining 156 surveyed nations account for $US342 billion or 21% of the world’s defence spending.