How far would you agree that the arms race was one of many causes of the First World War?

I completely agree that Arms race was one the many causes for the World War I. The growing tensions among European nations had been creating war like situations from time to time. The mismanagement of Bismarck’s system of alliances resulted in formation of two armed camps and division of Europe. This was because the alliance treaties were kept secret and this resulted in suspicion among the European nations and they started looking for safety in the strength of arms. There was growing competitive militarism at that time. The two groups treated each other with vigilance and suspicion and prepared themselves for a possible attack.
There was also great increase in standing army of Germany. France increased the compulsory service term from 2 to 3 years. Russia also adopted a new programme to increase the army. Britain expanded the naval expenditure, already there was a naval race going on between Britain and Germany. This approach resulted in immense military infrastructure of the nations.
Further, the Moroccan Crisis, then the Bosnia Crisis and then two Balkan Wars kept the militaries of Austria, Serbia, Germany, Russia, Britain and France arming more and more.