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Created with Fabric.js 1.4.5 Major: Colorado School of Mines IS TOO MUCH BEING SPENT ON THE ARMED TRADEWORLDWIDE? Resume Each year around $45-60 billion worth of arms sales are agreed. As the powerful countries show less inclination at reducing their own arms and continue to pursue it has a knock on effect with the rest of the countries around the world. When nations feel threatened by opposing countries they resort to improving their defensive capabilities and increase arms purchases and spending. There is often the added pressure to keep up with other countries; regarding world military spending the wealthier nations will highlight the sophisticated weapons other countries have which then deters the other countries to urgently increase their own military spending and proliferation. Each year around $45-60 billion worth of arms sales are agreed. Most peaceful countries:- Iceland - Denmark - New Zealand - Austria - Switzerland -Japan Least peaceful countries: - Afghanistan- Somalia - Syria - Iraq - Sudan The Global financial and economic crisis resulted in many nations cutting back on all sorts of public spending, HOWEVER military spending continued to increase. Only in 2012 there was a fall in the Worlds Military expenditure however it was only a small fall. As a result World Military expenditure in 2012 reached $1.756 trillion. This equates to approximately $249 for each person in the world. Levels of Global peace have fallen 5% since 2008.There has been a decline in hostility between states and the number of internal conflicts has increased. Followed by China (9.5% of world share), Russia (5.2%), UK (3.5%) and Japan (3.4%) The UN was set up just after World War 2. Although the UN is not perfect and has many internal issues it is revealing that the world can spend so much on their military butcontribute so little to global security, international cooperation and peace. The USA alone accounts for over two-fifths (just under half) of the worlds spending. In 2014 the USA Arm'sTrade expenditure was 4.5 times bigger than the next largest (China). Some governments spend more on military expenditure than on social development, communications infrastructure and health combined. The USA is responsible for 39% of the worlds total military expenditure. India has increased their military spending by 66% since 2002. 74% of the worlds weapons are supplied by the 5 permanent members of the UN security council USA (39%), Russia (14.8%), Germany (7.4%), UK (6.5%), China (6.2%), France (4%)
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