Top Arms Importers to watch.Spread betting soon at stiffs.com.

[Matthew X]

War IS the health of the State.
UAE, India, China among top arms purchasers: Report
IANS [ SATURDAY, AUGUST 17, 2002 12:19:58
WASHINGTON: The United Arab Emirates (UAE) ranked first among developing 
nations importing arms during 1998-2001, with its purchases totalling $10.8 
billion, while India was second with $7.2 billion and China third with $6.7 
billion.A new report released by the Congressional Research Service (CRS) 
that gave these figures, however, says global arms sales to developing 
nations in 2001 fell by approximately 43 per cent to $15.9 billion compared 
with $28 billion in 2000."Despite global changes since the Cold War's end, 
the developing world continues to be the primary focus of foreign arms 
sales activity by conventional weapons suppliers," it says. "Most 
recently," the report recalls, "many developing nations have curtailed 
their expenditures on weaponry primarily due to their limited financial 
resources" and "the tenuous state of the global economy."It says the 
decline in conventional weapons sales to developing countries in 2001 was 
the first since 1997. Sales in 1999 were $25.2 billion, in 1998 $18.3 
billion, and in 1997 $19.4 billion. "To meet their military requirements, 
in current circumstances, a number of developing nations have placed a 
greater emphasis on upgrading existing weapons systems while deferring the 
purchases of new and costlier ones," according to the CRS report."These 
countries have also, in several instances, chosen to focus on the 
absorption of major items previously obtained." The US-led arms sales to 
developing countries in 2001, making agreements worth approximately $6.9 
billion, down from $12.9 billion in 2000, followed by Russia with $5.7 
billion, down from $8.3 billion, France with $400 million, down from $2.1 
billion, and China with $600 million, down from $624 million."Many weapons 
exporting nations have continued to focus their sales efforts on nations 
and regions where they have distinct competitive advantages due to 
longstanding political and military relationships with prospective buyers," 
the CRS report says."Within Europe, the potential exists for a series of 
new arms sales to nations that were formerly part of the Warsaw Pact and 
are now members of the North Atlantic Treaty Organisation (NATO), or have 
membership in prospect." The report also notes that new arms sales are most 
likely to occur in the Middle East, Asia and Latin America over the next 
few years. "A significant factor will be the health of the international 
economy," it says.
http://timesofindia.indiatimes.com/articleshow.asp?artid=19350073