U.S. Defense Cuts Lead to First Drop In Global Arms Spending In 15 Years -- Time
With battles raging in Congress over the Pentagon’s proposed budget cuts, a new report says the gap in military spending between the U.S. and the rest of the world is narrowing, with Washington’s erstwhile foes—China and Russia—splurging on new weapons systems and several countries from Saudi Arabia to Algeria also spending billions on upgrading their arsenals, according to the yearly rankings of world military spending compiled by the Stockholm International Peace Research Institute, or Sipri. “There is a shift globally from the West to other countries,” says Elisabeth Sköns, Sipri’s Africa program director. “It is very much related to economic growth rates rather than security related factors.”
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More News On The First Drop In Global Arms Spending In 15 Years
World military spending dips in 2012, first fall since 1998 -- Reuters
Global Defense Spending Falls as U.S. Cuts Outpace China Growth -- Bloomberg
Global military spending dips in 2012 -- Sydney Morning Herald
Austerity hits global military spending -- Financial Times
Pentagon Budget Is Down, But U.S. Remains the World’s Biggest Military Spender -- National Defense
China and Russia's military spending rises -- Swedish Wire
WNU Editor: SIPRI's website is here.
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