Scott Morrison speaks during the launch of the 2020 Defence Strategic Update (Image: AAP/Lukas Coch)

Australia has a bipartisan commitment to spend 2% of its GDP on defence. But how was that decided?

As this chart shows, by spending just under 2% on defence we are above the global median as far as share of the economy goes -- but still mid-pack.

Australia has fallen short of the 2% target for several years, but this year, with GDP in retreat thanks to the coronavirus recession, we might finally achieve it.