New arms industry-focused research estimates that Beijing trails only Washington in terms of arms production following the emergence of credible financial information previously not available on major Chinese manufacturers.
Sweden’s Stockholm International Peace Research Institute (SIPRI) revealed Monday that its annual report concluded the US, China and Russia are the top three nations in terms of arms production, judging from 2017 data.
The US leads the Top 100 list with approximately $226.6 billion in arms sales for 2017, and China comes in at a distant second with somewhere between $70 billion and $80 billion in estimated total sales. Russia trailed in third with an estimated $37.7 billion in arms sales for the year.
The Swedish think tank noted that previous reports on the matter excluded China from the rankings due to a lack of transparency regarding expenditures by Beijing and its arms manufacturers.
“With the increase of available data on these companies, it is now possible to develop reasonably reliable estimates of the scale of the Chinese arms industry,”