Another Look At The Top Military Spenders In The World

CHINA - $100 billion: Beijing regards its military expenditures as a state secret, but SIPRI estimates that China spent $100 billion on its military in 2009. While this is less than one-sixth of what the US spends on its military, it is still a 217 percent increase from a decade earlier. Chinese militia take part in a military drill in Taiyuan, China, in July 2009. Reuters/FILE

Top 10 Military Spending Nations; Oil Countries Post Biggest Jumps This Decade -- Christina Science Monitor

Despite a global recession, worldwide military spending increased in 2009 by its fastest pace since 2003, according to a new report by the Stockholm International Peace Research Institute. Chad boosted spending by 663 percent. The US still has the biggest defense budget.

Worldwide military spending jumped 5.9 percent in 2009 to $1.5 trillion, according to a new report that underscores the long-term decision of many countries to prioritize defense. This is despite a recession that shrunk the global economy 2.2 percent.

The US remains by far the biggest military spender, followed by China, the Stockholm International Peace Research Institute (SIPRI) said in its annual report on worldwide military expenditures, released June 2. Last year saw the steepest jump in worldwide military spending since the start of the Iraq War in 2003.

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My Comment: No surprises here .... but one ominous sign is that the biggest military budget increases were seen in small, oil-rich countries flooded with new wealth. Hmmm .... a sign of things to come.