A Research institute based in Stockholm has published a study which reveals that when the governments across the globe were working overtime to save their economies from slipping into a deep recession, the defence industry across the globe was actually going through a period of boom, thanks to an ever increased spending on defence by the same governments.
According to Stockholm International Peace Research Institute, the total military expenditure saw a near 6% growth in 2009 when compared with the defence expenditure incurred by the governments in 2008. It’s believed that the top spenders including USA, China and India see military spending as a strategic choice to bolster their standing in the global arena. The study also shows that the Asian countries and the countries in the Pacific spent more when compared with their counterparts in the west. The findings also suggest that the defence industry might find itself under an increased pressure in the time to come.
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