The arms race was an important part of the Cold War between America and Russia. The war led both countries to produce a stockpile of nuclear weapons which resulted in a great fear. Years later in 1986 the Reykjavik meeting took place between President Reagan and Mikhail Gorbachev, leader of the Soviet Union. This meeting was the start of peace and the signing of the Intermediate-Range Nuclear Forces Treaty.
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In the years preceding World War I, the alliance system and the arms race worked together to bring Europe to the brink of war -- and then into war itself. The alliance system, designed to prevent war, actually forced nations into a war that did not initially involve their economic or political well-being. The arms race among European nations was also a factor inasmuch as it gave confidence to each side that, in the event of war, their accumulated might would ensure victory for their side, especially with the help of sure allies.
Those who know history can help prevent repeating it.
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We now have the United Nations to prevent wars and a World War. They also offer other benefits. Europe now has the European Union to benefit the continent and nations.
For people to help defend themselves, several countries joined alliances.