This page was last edited on 10 February 2018, at 16:11. US and world military spending military weapons of the world pdf budgets are very high, almost back to Cold War levels.

Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. No nation could preserve its freedom in the midst of continual warfare. In Context: US military budget vs. Should spending be tied to GDP? US high military spending means others do not have to? It fell by around half a percent compared to 2011 — the first fall since 1998. Chart uses 2011 constant prices for comparison.

The USA with its massive spending budget, has long been the principal determinant of the current world trend, often accounting for close to half of all the world’s military expenditure. This trend carries on into 2012 spending. But as recent figures have shown, there is a shift in expenditure — from austerity-hit Western Europe and reduced spending by the US, to increased spending in Eastern Europe and Asia. Only in 2012 was a fall in world military expenditure noted — and it was a small fall. How would continued spending be justified in such an era? Before the crisis hit, many nations were enjoying either high economic growth or far easier access to credit without any knowledge of what was to come. The last point refers to rapidly developing nations like China and India that have seen their economies boom in recent years.