{"id":12693,"date":"2012-03-26T04:03:23","date_gmt":"2012-03-26T04:03:23","guid":{"rendered":""},"modified":"2012-03-25T18:03:31","modified_gmt":"2012-03-25T18:03:31","slug":"Asia-undergoes-fastest-military-buildup-on-planet","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=12693","title":{"rendered":"Asia undergoes fastest military buildup on planet"},"content":{"rendered":"

According to a report from the Stockholm International Peace Research Institute (SIPRI), Singapore is now the fifth-largest arms importer in the world, bested only by some obvious behemoths–China, India and Pakistan–plus South Korea. <\/strong>Singapore accounts for 4% of the world’s total spending on arms imports. Its defence spending per head beats every country bar America, Israel and Kuwait. This year $9.7 billion, or 24% of the national budget, will go on defence.<\/p>\n

These are striking figures, but then Singapore has been one of the bigger spenders in the region since its rancorous split from Malaysia in 1965.<\/strong> The difference now is that almost every country in South-East Asia has embarked on a similar build-up, making it one of the fastest-growing regions for defence spending in the world. Military analysts at IHS Jane’s say that South-East Asian countries together increased defence spending by 13.5% last year, to $24.5 billion. The figure is projected to rise to $40 billion by 2016. According to SIPRI, arms deliveries to Malaysia jumped eightfold in 2005-09, compared with the previous five years. Indonesia’s spending grew by 84% in that period.<\/p>\n

It is part of a wider Asian phenomenon.<\/strong> For the first time, in modern history at least, Asia’s military spending is poised to overtake Europe’s, according to the International Institute for Strategic Studies, a think-tank in London. China is doubling its defence budget every five years and India has just announced a 17% rise in spending this year, to about $40 billion.<\/p>\n

Continue reading at businessinsider.com<\/a><\/em>
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