Jun 14, 2009
China now lags only the U.S. in defense spending, according to a new report from the Stockholm International Peace Research Institute. SIPRI says China spent almost USD 8.5 billion on defense last year, or 6 percent of the worldwide total, moving ahead of both France and Britain, which each represent about 4.5 percent of global defense spending. Meanwhile, after a long period of decline, Russia's economic resurgence led to a boom in spending, landing it at No. 5 on the list. Among the top 15 spenders, only Germany and Japan have reduced arms spending over the past decade, according to SIPRI. Jun 9, 2009
Paris Air Show
Asian visitors will likely get an extra warm welcome at next week's Paris Air Show as governments across the region step up defense spending in response to China's military push. "There are a lot of people who, quite frankly, see the Asian market as one of the El Dorados," says a...