Why are nations racing to buy weapons? | Business and Economy [Video]

Russia’s invasion of Ukraine, escalating geopolitical tensions in the Middle East and China’s military build-up in the South China Sea are increasing instability in the world.

This is leading nations across the globe to boost their defences.

Military spending reached an all-time high of nearly $2.4 trillion last year.

The Stockholm International Peace Research Institute or SIPRI says the increase is in all five geographical regions for the first time in 15 years.

And, will Western sanctions affect Iran’s ability to wage a war against Israel?

Plus Italy’s Venice is charging entry fees for day trippers.