Global arms race escalates with China becoming the second biggest exporter
Global arms race escalates with China becoming the second biggest exporter
In the past five years, the Chinese military industry has become the world's second-largest arms manufacturer after the United States, according to recent data.
While science and rational thinking have become dominant themes in the modern world, warlike human nature and concerns for global security across all religions and backgrounds are progressing at a faster rate, new data suggests.
According to a Swedish peace institute, last year the world's arms manufacturing sector saw an increase of 8.5 percent, reaching $ 361 billion in sales compared to 2018.The institute's analysis is based on data collected of the top 25 arms sales companies in the world.
Some of the information, which has been prepared by the Stockholm International Peace Research Institute (SIPRI), says that China, which remained isolated for several centuries until gradually opening up to the world in the 1950s onwards, has become the second largest arms exporter in the world. It now surpasses some powerful European nations and Russia, with a 16 percent share of the top 25 companies.
The United States, the world's largest democracy, remains by far the world's leading arms manufacturer, "accounting for 61% of the combined arms sales of the top 25," according to the report.
China has overtaken some of the major European countries such as the United Kingdom, France and Russia, the successor state to the former communist Soviet Union, which competed with the United States in the arms race during the Cold War.
Among the top 25 arms companies that were reviewed, China is represented by four companies, with sales of $ 56.7 billion in 2019, while Russia has two companies with a net worth of $ 13.9 billion in the same year.
The United States tops all others with combined sales of $ 221.2 billion last year.
The rise of Chinese weapons
Experts think that China's share of the global arms sector could be much higher than that of various research groups such as SIPRI's estimate, because the country's authoritarian regime led by the communist party makes exact sales figures in missile manufacturing and shipbuilding are inaccessible.
"Those with access to additional data are likely to see even higher arms sales activity [in the People's Republic of China]," said Andrew Erickson, a professor at the China Institute for Maritime Studies at the US Naval War College.
"After all, China already enjoys the second largest defense spending in the world by any measure and is pursuing rapid military development and expansion of influence," the professor added.
Three Chinese arms companies were able to reserve a place on the list of the world's top ten arms manufacturers, which shows how adept the communist party-led country's political and financial system has been in competing fiercely with powerful capitalist countries in global markets.
The China Aviation Industry Corporation (AVIC) ranked sixth and the China Electronics Technology Group Corporation (CETC) ranked eighth. China North Industries Group Corporation (NORINCO) ranked ninth.
"The combined revenues of the four Chinese companies in the top 25, which also include China South Industries Group Corporation (CSGC; ranked 24th), grew 4.8 percent between 2018 and 2019," the SIPRI report noted.
China can export its military technology to a diverse geography, ranging from its immediate Asian neighbors like Pakistan, Bangladesh and Myanmar, to Africa and the Americas.
The large Asian continent accounts for 75 percent of China's total military exports, while Pakistan, Bangladesh and Myanmar account for 61.3 percent of that sum according to the data, spanning a time period from 2008.
In Africa, Chinese arms also appear to have particular appeal, covering 20 percent of the country's total exports. North Africa accounts for almost half of the country's sales to the continent, while East Africa accounts for 21 percent.
Although Chinese arms companies are not doing so well in America, Venezuela, with a government of socialist tendencies, is by far the largest customer of the Asian power, accounting for 87 percent of all sales in the whole continent.
Beijing may even find customers in Europe, which has been a rare event for a long time.
At the end of 2019, Serbia showed its interest in Chinese-made UAVs and said it will buy 9 Wing Loong drones from Beijing.
Russia, which has invested heavily in developing its military technologies under the steadfast leadership of President Vladimir Putin, showing off its high-tech supersonic cruise missiles in places like Syria, is finding that its arms sales to the rest of the world are on the decline. . , according to the report.
“The revenues of the two Russian companies in the top 25, Almaz-Antey and United Shipbuilding, decreased between 2018 and 2019, by a combined $ 634 million. A third Russian company, United Aircraft, lost $ 1.3 billion in sales and pulled out of the top 25 in 2019, ”the report highlights.
Source:- Flash News and News Agencies
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