MUNICH—Global level of competition between the U.S. and China is spurring nations all over the globe to increase their armed forces spending, in accordance to a new report by an worldwide think tank that documented the most important increase in additional than a decade.

Defense spending globally rose by four% in 2019 above the earlier year,  amounting to the best yearly increase in ten a long time, in accordance to the report, released Friday by the London-dependent Intercontinental Institute for Strategic Scientific tests.