Thursday, September 6, 2007

The rise and rise of military expenditure

Each year, countries are spending more and more on their military to acquire and enhance their fighting capabilities. So much so that there is a large gap between what countries are prepared to allocate for military means to provide security and maintain their global and regional power status, on the one hand, and to alleviate poverty and promote economic development, on the other.
Some facts about military expenditure that give pause for thought:

  • Global military expenditure and arms trade is in excess of over one trillion dollars annually and continues to rise.

  • This corresponds to 2.5 % of world GDP.

  • Nearly half of this total is of the US distantly followed by the UK, France, Japan and China with 4–5 % each.

  • High and rising world market prices of minerals and fossil fuels and economic growth are all factors contributing to increased military expenditure by governments.

  • The United Nations Budget is but a small fraction of total world military budget, approximately 2%.

  • Generally, compared to Cold War levels, the amount of military spending and expenditure in most nations has been reduced. But USA has,to a large extent, maintained its military spending close to cold war levels.

  • 41% of the US Taxpayer money goes towards current military spending and supporting U.S. military activities, including interventions, throughout the world.


    1 comment:

    NeoAuteur said...

    Well, America is the world's only superpower. It's worth the price.