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Asia outstrips Europe in defence spending

7th March 2012 - 12:24 GMT | by Darren Lake in London, UK

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Defence spending in Asia is expected to overtake that in Europe at some point this year, according to London-headquartered International Institute for Strategic Studies.

John Chipman, director-general of IISS, said on 7 March that the change reflected both continued austerity measures in Europe and sustained economic growth in Asia, which also continues to have a number of conflict flash points.

Some 80% of Asian defence spending is accounted for by five countries: Australia, China, India, Japan and South Korea. China alone accounts for some 30% of defence spending in the region although its spending remains far below that of the

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