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Briefing

Global Military Spending

Appears in: Advanced Economies, Asia/Pacific, Emerging Markets, Europe, Middle East and Africa, North America, Geostrategy, Markets, China, Gulf Cooperation Council, Northeast Asia, Russia, Russia, CIS and the Caucasus, United States, Defense Policy and Terrorism, Foreign and Domestic Political Risk, Sectors and Industries

Critical Issues

Background:

The spike in global military spending which roughly began following the 9/11 attacks in 2001 continues, though experts believe that a leveling off may begin in the second decade of the 21st century due to shifting security priorities and the global financial downturn. Several major military powers - the United States, UK, and Russia - appear to be peaking, with each mulling plans to hold the line or reduce spending to roughly the level of inflation. China, India and Australia, however, are likely to continue recent modernization programs.

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Associated Readings

Analysis Financial Times James Blitz May 21, 2009 Future of British military spending: Testing waters ahead Blogs Global Issues Mar 01, 2009 World Military Spending Analysis SIPRI Mark Bromley et al April 2009 SIPRI Arms Transfers Data, 2008 Analysis Office of the Secretary of Defense March, 2009 Annual Report to Congress: Military Power of the People’s Republic of China 2009 News Wall Street Journal Iain McDonald May 04, 2009 Australia to Bolster Defense News Washington Post Shailagh Murray and Greg Jaffe Apr 07, 2009 Gates Seeks Sharp Turn In Spending News Jamestown Foundation: China Brief Russell Hsiao May 27, 2009 Chinese State-Owned Military Firm Reports Major Increase in Sales Analysis Chinese State Council Jan 20, 2009 White Paper: China's National Defense in 2008 Analysis Fitch Ratings (free registration) Craig Fraser Jan 27, 2009 Aerospace and Defense: 2009 Global Outlook Analysis MarketWatch Christopher Hinton Aug 11, 2008 Georgia conflict could revive big military spending Analysis Council On Hemispheric Affairs Alex Sánchez Sep 10, 2008 The Brazilian Military Is Back, As It Fleshes Out Its Weaponry And Strategies News Christian Science Monitor Simon Montlake Sep 10, 2008 Australian P.M. plans military expansion to counter Asian arms race Analysis Foreign Policy Nov 26, 2007 The List: The World’s Biggest Military Buildups Opinions European Council on Foreign Relations José Ignacio Torreblanca Jul 22, 2008 EU defence: The numbers don't add up

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