“However, spending in emerging regions will probably go on rising, so the world total will probably bottom out after that.”
RISE OF CHINA
Global military spending fell significantly after the Cold War ended, reaching a nadir in the mid-1990s, but picked up pace sharply after the Sept. 11 attacks on the United States.
The global total remains above the Cold War peak.
While the United States and its allies still account for most of the expenditure - NATO members spent more than a trillion dollars last year - regions such as Asia and eastern Europe ramped up outlays, SIPRI said.
In the works for China’s military are new submarines, ships, missiles, a stealth fighter and aircraft carrier combat groups.
China has repeatedly said the world has nothing to fear from its military spending, but governments from Tokyo to Mumbai are worried about the capabilities and what appears to be the greater belligerence of China’s military.
Over the past six months, China’s stand-off with Japan over a series of uninhabited islands in the East China Sea has become more acrimonious, and has already led to calls in Tokyo for Japan to alter its pacifist constitution.