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Tuesday, June 7, 2005
An AGM-65 Maverick air-to-surface tactical missile developed in the United States. According to the report, almost half the world's military spending is by the United States.
According to a new report by the Stockholm International Peace Research Institute (SIPRI), total world military spending was $1.35 trillion in 2004. The institute says that this is just 6% off the all time record, set in 1987 at the end of the Cold War. However this record could soon be shattered as spending jumped 5% last year alone.
In a stark example of the huge amount spent on the military by the United States, SIPRI revealed that almost half of all spending is by the US, $455bn or 47% to be exact. This figure is greater than the combined spending of the next 32 heaviest spenders. US spending on its armed forces now stands at 3.9% of its GDP, less than the 6% during the Cold War, but more than the 3% reported the previous year.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
The text of this article has been released into the public domain. In the event that this is not legally possible, this article may be used for any purpose, without any condition, unless such conditions are required by law. This applies worldwide. Copyright terms on images, however, may vary, so please check individual image pages prior to duplication.
