From The BBC:
Global military spending rose 45% between 1999 and 2008, fuelled by the US-led "war on terror" and by increased wealth in China, Russia and the Middle East.
In Western and Central Europe, military spending increased at a much slower rate than in any other part of the world, while the US accounted for 58% of the global increase during the decade.
Read more ....
My Comment: On the face of it these figures look astounding .... but people in the U.S. military receive a wage and benefits .... soldiers in China are not paid (or are paid very little). The same can be said about Europe. Monies are focused on salaries, benefits, and pensions .... not weapons and equipment. The accompanying graphs reveal how much defense contractors are selling and making.