(Reuters) – Asian military spending will top that of Europe in 2012 for the first time in centuries, a global defence survey said yesterday, pointing to high regional economic growth and an increasingly ambitious China.
The London-based International Institute for Strategic Studies said U.S. military spending was also falling with withdrawal from Iraq and Afghanistan – although Washington’s $739 billion budget still dwarfs that of other nations.
With the Pentagon explicitly refocusing its strategic attention on