Facing increasing belligerence from China, Taipei has significantly boosted defence spending, especially for domestically-produced weapons.
US strides ahead of competition in global arms sales results
US manufacturers led the way in 2020 global arms sales, with 41 manufacturers from the region generating a total of $285 billion, an increase of 1.9% compared to 2019, according to a new report from the Stockholm International Peace Research Institute (SIPRI).
Figures released in the report also show that sales of military equipment by the world’s top 100 arms sellers rose to $531 billion in 2020, an increase in real terms of 1.3% against SIPRI data from 2019.
‘The US continues to see steady, high investment in military spending and consequently develop its arms industry in much the same …
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