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World Military Spending Nears $1 Trillion in 2003

HeadlineJun 10, 2004

Global military spending around the world reached nearly $1 trillion last year. The United States spent almost more money than all of the other countries in the world combined. The world total marks a 11 percent jump over the past year. The group Stockholm International Peace Research Institute said the jump was a “remarkable increase.” According to the group, the U.S. accounted for 47 percent of the total spending. Japan accounted for 5 percent. And Britain, France and China, each accounted for 4 percent.

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