The United States and its allies will need around $10 trillion to rearm. The new arms race could lead to a series of complex decisions for Western governments, reports Bloomberg. Last year, global defense spending reached a record $2.2 trillion. NATO countries are striving to reach a level of 2% of GDP on defense. However, some officials say that defense funding needs to be increased to 4% to meet the alliance’s plans. According to Bloomberg’s calculations, if the United States and its G7 allies were to reach such a level, it would mean additional commitments of over $10 trillion over the next…