military spending ↘↖
The logic behind global military spending?
Military spending among all countries totaled $1.63 trillion in the year 2010, but that was up just 1.3% from the year 2009. Such military spending includes weapons, military equipment, soldiers and the cost of maintaining and upgrading a country’s military infrastructure. Take a look at what some of the world’s top 10 costliest militaries, which is a listing of top 10 countries ranked by their budget for military spending each year.
Take a look at the military expenditure as percentage of GDP chart using World Bank data, it shows that some of the top 10 nations listed are spending a proportionally higher amount on military spending in relation to their country’s Gross Domestic Product (GDP), money that could well be more importantly spent on other projects that benefits its citizens directly.
India has become the world’s largest weapons importer, according to the Stockholm International Peace Research Institute report on military expenditure, in the process overtaking China. India accounted for 9 percent of all international arms imports between 2006 and 2010, while China accounted for 6 percent. India’s $32.5 billion defense budget for 2011 jumped 40 percent from 2009, and it now expects to spend $80 billion over the next decade on arms. Russia is India’s largest arms supplier, accounting for 82 percent of sales.
All this military stockpiling for the greatest battle ever? Man and mankind will never change, I guess, as human nature is always ingrained to chase victory and supremacy, even though all victory is just an illusion?
