China is now world No. 2 arms spender, report says

[Coventina]

Source: Associated Press

STOCKHOLM (AP) — China has become the world's second biggest military spender behind the United States, a Swedish peace research group said Monday.

Global arms spending rose 4 percent last year, but China increased its spending by 10 percent to an estimated $84.9 billion last year, the Stockholm International Peace Research Institute said in its annual report on world arms transfers.

"China is continuing to acquire both domestic and foreign arms as it seeks to equip its armed forces for conditions of modern 'informationalized' warfare," it said. Such warfare involves the use of precision weapons and high-tech information and communications technology.

Sam Perlo-Freeman, a researcher for the peace institute, said China had previously spent relatively little on its military.



Read more: http://www.google.com/hostednews/ap/article/ALeqM5h9vyZCoFpWK24-IY_yXaTkiPIkgAD98MHC400

[RaleighNCDUer]

1. China's military is what, half-again larger than ours, yet they

increased to 89 billion to our 450 billion (not including war expenditures).

They must still think that the military's function is to defend the nation instead of making the MIC rich and powerful.

[bananas]

2. Our 600 billion

http://www.google.com/hostednews/ap/article/ALeqM5jYsV5Euf-7NCUHwvvjaCpsFGd_8gD98MH4CO0

Top 10 arms spenders, arms producers in the world

1 hour ago

A look at the top 10 arms spenders and top 10 arms producers in the world, according to estimates by the Stockholm International Peace Research Institute:

Top 10 military spenders 2008 (US$, billions)

1. United States — 607

2. China — 84.9

3. France — 65.7

4. United Kingdom — 65.3

5. Russia — 58.6

6. Germany — 46.8

7. Japan — 46.3

8. Italy — 40.6

9. Saudi Arabia — 38.2

10. India — 30.0

Top 10 arms producers 2007, according to sales (US$, billions)

1. Boeing (US)_ 30.5

2. BAE Systems (UK) — 29.9

3. Lockheed Martin (US) — 29.4

4. Northrop Grumman (US) — 24.6

5. General Dynamics (US) — 21.5

6. Raytheon (US) — 19.5

7. EADS (West Europe) — 13.1

8. L-3 Communications (US) — 11.2

9. Finmeccanica (Italy) — 9.9

10. Thales (France) — 9.4

[Zynx]

3. Their $89 billion does have to be adjusted for compensation and material cost

differentials in the two countries.

[AlphaCentauri]

4. We could probably have health care and free education

with that money

[David__77]

5. Just a fraction of US spending, and in line with spending as a percentage of GDP.

China is certainly not spending a larger fraction of its resources on military spending. It's a growing country, and it makes sense that it would enhance its military defense capacity as resources become available.

[Romulox]

6. Quick! Time for an EMERGENCY increase in war funding! nt