Global Arms Spending.
Since the people and states are getting more conscious towards their hegemonic designs, there has been a race of armaments among the members of this civilized world. Where this arms race has provided a level of security to the citizens of the states, it also neglects the needs of the poor people of the States. It allows the developing and under developing States to participate in it and in this way these States allocate a big chunk of their budget for this purpose ignoring the needs of people.
Global spending on weapons has increased more than $1.7 ton and Russia has overtaken Britain and France to take third place in the world league table. According to the figures released by Stockholm International Peace Research Institute (SIPRI), the European countries were taking lead in the arms race but this race had fallen in western States as America was facing serious budget deficit. However Russia and China have increased their military spending by nine percent and six percent respectively.
U.S.A stood first in military budget and arms spending with $711bn defence budget last year and China came next with spending of $143bn on military budget, as she has increased its military spending by 170 percent in real terms since 2002.
Russia spent nearly $7.2bn on arms last year, over taking Britain ($62.7bn) and France ($62.5bn), according to SIPRI. It is also in lines that Russia is further planning to increase her military budget in future with a draft budget showing a 53 percent rise in real terms up to 2014.
India has increased military spending by 66 percent since 2002 and her current military budget is $46.8bn.
Vietnam has increased her military spending by 82 percent since 2003 and has invested heavily in its Navy since last few years.
Countries in the Middle East continued their military to surge in the context of many revolutions that have sprung in this region.
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