Their competition is now not just confined to the brethren of developing countries,

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In the horde of becoming self sufficient in every sphere and in order to counter terror attack at one’s capacity, developing countries first tested out arms purchase, but subsequently, over time, plunged heavily and headlong into being arms traders themselves. Their competition is now not just confined to the brethren of developing countries, but also extends to the developed nations. The value of all arms transfer agreements with developing nations in 2007 was nearly $42.3 billion; an increase from $38.1 billion in 2006! But till the time more than a billion globally continue living below the poverty line and till the time similar numbers remain illiterate and living a destitute life, one wonders how well can this arms race be really justified...


Sray Agarwal


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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