SIPRI Reports Shifting Trend In Global Military Expenditures -- Deutsche Welle
Military cuts in the US and Europe have resulted in a fall in global weapons spending for the first time since 1998, according to Stockholm-based observers. The trend has been offset by arms purchases in other regions.
In its annual report on global military expenditures, the Stockholm International Peace Research Institute (SIPRI) said on Monday that global military expenditures in 2012 had fallen by 0.5 percent compared to 2011.
Some of the most significant cuts came from the US as it reduced its presence in conflict zones (such as Afghanistan) and reacted to budget cuts in the Defense Department. For the first time since the fall of the Soviet Union, SIPRI says, the percentage of US spending as part of total global military spending has fallen below 40 percent. Despite the drop, the US remains the global leader in military expenditures.
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