Tuesday, October 31, 2006

Cold War? What For?

Who needs Communism when you've got everything else. It's an absolute free-for-all out there folks. According to the UK's Independent, free market philosophy has hit the arms race. Check it out :

Russia has overtaken the United States to become the developing world's arms dealer of choice for the first time since the collapse of the Soviet Union, striking a record number of arms deals last year.

According to a report prepared for the US Congress, Russia captured almost one quarter of the arms market in the developing world in 2005, winning new business worth $7bn (£3.6bn), up from $5.4bn in 2004. The report covered government-to-government arms deals but excluded agreements by commercial dealers.

France, the US and the UK took second, third, and fourth place respectively, with deals to supply the developing world with arms worth a collective $15.28bn in 2005. The report showed Russian sales included missile defence systems to Iran, military aircraft to China, heavy battle tanks to India, and multiple consignments of the ubiquitous Kalashnikov assault rifle.

And there's more... oh nelly, there's much, much more.

The report said India struck more arms deals last year than any other country, with agreements worth $5.4bn. With $3.4bn, Saudi Arabia came second, while China was ranked third with purchases worth $2.8bn.

The report put Russia's success down to the fact that it has abandoned its post-Soviet policy of only accepting hard currency.

Top exporters

* RUSSIA $7bn
* FRANCE $6.3bn

Deals with governments in developing world.
Source: US Congressional Research Service

"Balance of Power" is so 1980s.


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