The 2016 edition of The Military Balance, the Institute for International and Strategic Studies’ definitive annual report on the state of the world’s various armed forces has some encouraging and not-so-encouraging news about global defense spending.
On the one hand, growth in military spending is slowing down in the volatile Middle East and spending is even contracting in Latin America, thanks to plunging oil prices.
But at the same time, two countries that often take an adversarial stance towards the US and its allies were responsible for over one third of last year’s spending increases: Russia and China.
Alexei Druzhinin/RIA Novosti/Reuters
“Double-digit real increase …read more
Source: Business Insider
