World military spending rose for a sixth year running in 2004, growing by 5 percent to $1.04 trillion on the back of “massive” U.S. budgetary allocations for its war on terror, a leading research institute said on Tuesday. But world military expenditure was still 6 percent below all-time highs recorded in 1987-88 toward the end of the Cold War, Stockholm International Peace Research Institute (SIPRI) said in its annual yearbook. Full Story
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