South China Sea tensions to drive Asia’s defense spending, says report

(From AP)

Growing tensions in the disputed South China Sea will drive up defense spending in the Asia-Pacific region by almost 23% by the end of the decade, consultancy IHS Jane’s said in a report Thursday.

uth China Sea's littoral states appear to be responding to China's more assertive stance in the region

South China Sea’s littoral states seem to be responding to China’s more assertive stance in the region

Combined regional defense budgets will grow from $435 billion last year to $533 billion in 2020, furthering a shift in global military spending away from Western Europe and North America toward emerging markets, especially in Asia, the report said.

“A number of the South China Sea’s littoral states appear to be responding to China’s more assertive stance in the region and there is no sign of this trend coming to an end,” Janes’ principal analyst, Craig Caffrey, said in the report. Read More



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