Higher income countries such as the United States and those in Western Europe are expected to continue to decrease spending on defense during the next five years due to increasing demands for social services or austerity while lower income countries such as China and Russia are expected to increase defense spending to modernize their military capabilities, according to a new study by the consulting firm Deloitte. “Higher income countries are slowing defense spending as regional conflicts end and as domestic…
Higher, Lower Income Countries Taking Defense Spending In Opposite Directions, Study Says
Defense Daily Staff
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