World spending on wars $1.75 trillion in 2012, 2.5 % of global GDP. Poisoning the world.

15 countries with largest military budgets. 

The first place still belongs to the United States with its 682 billion dollars, accounting for 4.4 percent of GDP.
The second place is taken by China with $166 billion (2 percent of GDP),
the third place - by the Russian Federation with $90.7 billion (4.4 per cent). 

Then comes the United Kingdom - $60.8 (2.5) and Japan - $59.3 (1.0).
The top five accounts for 60 percent of world military spending - 1.06 trillion dollars.

Fifteen heavyweights close the list (in billions of dollars):
France (58.9), Saudi Arabia (56.7), India (46.1), Germany (45.8), Italy (34.0), Brazil (33.1), South Korea (31.7), Australia (26.2), Canada (22.5) and Turkey (18.2). 

Top fifteen countries provide 82 percent of global military spending (1.43 trillion dollars). 

The United States continues to take the lead in military spending in absolute terms. The country spends more on defense than the following ten countries combined. 

Although in 2012, the U.S. military budget has decreased by 6 percent, the new index marked a 69 percent increase vs. the indexes of 2001 - the year that became the beginning of the "global war on terrorism," SIPRI experts wrote.

Unlike the U.S., China and Russia have increased their military spending by 7.8 and 16 percent respectively during the accounting period.
However, as for GDP percentage-wise, their share in comparison with 2003 remained unchanged, whereas it increased in the U.S. (from 3.7 to 4, 4 per cent).
Therefore, an arms race on the part of Russia and China does not make sense.

China and Russia catch up with USA in rearms race - English pravda.ru

just be careful not to spend on healthcare and education - happy citizen cant be manipulated easily into war games