In a strategic assessment ahead of Asia's biggest annual defense meeting in Singapore this weekend, the London-based International Institute for Strategic Studies (IISS) said the world was on the cusp of a new nuclear arms race "with the Asia-Pacific at its core", Reuters reported.
"Regional states and those with strategic interests are expanding their nuclear arsenals, while non-nuclear weapons states pursue long-range conventional-strike capabilities: both challenging strategic stability," the IISS assessment said.
There was no immediate response from US or Chinese authorities.
Taiwan, the war on Iran and uncertainties about US commitments to the region, are expected to surface prominently at the IISS' Shangri-La Dialogue.
The informal conference runs from May 29 to 31, drawing an eclectic mix of ministers, generals, intelligence chiefs, diplomats, analysts and weapons makers.
The event follows a summit between Chinese President Xi Jinping and his US counterpart Donald Trump in Beijing earlier this month, which led to some concern in Taipei about the US commitment to help the island defend itself.
Beijing has never ruled out the use of force to take control of Taiwan, but has also said it would prefer "peaceful reunification".
China has ramped up pressure on Taiwan by increasing its military presence around the island, keeping Taipei on high alert for further Chinese moves following the summit.