Wednesday, March 18, 2009

The world's biggest military spenders

Military spending

Up in arms

Mar 18th 2009

The world's biggest military spenders

ON TUESDAY March 17th, Russia announced that it would begin a comprehensive rearmament in response to the advance of NATO into parts of the former Soviet Union. And earlier this month China said it would increase military spending by 14.9% to some $70 billion this year, continuing double-digit growth that began in the 1990s. But this pales in comparison with America's mighty defence budget. According to the latest comparable figures from the Stockholm International Peace Research Institute, America accounted for 45% of the world's military spending—$1.2 trillion in 2007—more than the next 14 biggest countries combined.