'Dangerous decade': Military spending surges as tensions rise across the globe, report shows

The world has entered an era of increasing instability as countries around the globe boost military spending, according to the International Institute for Strategic Studies.

"The current military-security situation heralds what is likely to be a more dangerous decade, characterized by the brazen application by some of military power to pursue claims — evoking a ‘might is right’ approach — as well as the desire among like-minded democracies for stronger bilateral and multilateral defense ties in response,’’ the report said.