Worldwide spending on weapons is expected to reach record levels in 2006 at a time when the arms industry is increasingly able to avoid export controls, human rights and aid agencies say. By the end of the year, military spending is expected to reach $1,058 billion, about 15 times the amount spent on international aid, say Amnesty, OXFAM, and the International Action Network on Small Arms.
The figure is higher than the Cold War record from 1987-88 of $1,034 billion in today's prices, they say, adding that last year the U.S., Russia, Britain, France and Germany accounted for an estimated 82% of all arms transfers.
Other countries are emerging as major arms exporters. Brazil, …
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