Australia to increase defense spending by $21 bn
Australia will increase defense spending by nearly $21.6 billion over the next decade, Prime Minister Malcolm Turnbull said in Canberra on Thursday. Defense spending will rise to 2% of Australia's GDP, by 2021-2022, as Australia buys new equipment. Turnbull said the new strategy was designed keeping in mind China's economic and military rise and the changing nature of regional security. 