America leads the world in defense spending, accounting for a staggering 39% of global military expenditure in 2020 – more than the other top 10 countries combined. The People's Republic of China is the next biggest spender, representing 13% of the worldwide total in 2020. As tensions between Washington and Beijing mount, read on as we reveal what each government allocates to national security, and why China's defense spending might not be what it seems.