Asia's defence spending grows amid political tensions

North Korea, marks the 80th birthday of its army on Wednesday, with the US estimating the country's defence spending to be nearly a quarter of the size of its economy - compared with less than 3% for South Korea, or just 1% for Japan.

Overall military spending in Asia has been growing while the West has been cutting back.

Asia's top spender, China, has more than trebled its official defence expenditure over the past ten years.

Asia Business Report's Rico Hizon asked Richard Bitzinger of the S Rajaratnam School of International Studies if defence spending would rise further due to political tensions in the region.