Alexei Druzhinin/RIA Novosti/Reuters
Business Insider: 2 superpowers were responsible for a big chunk of last year's increase in military spending
The 2016 edition of The Military Balance, the Institute for International and Strategic Studies' (IISS) definitive annual report on the state of the world's various armed forces, has some encouraging and not-so-encouraging news about global-defense spending.
On the one hand, growth in military spending is slowing down in the volatile Middle East and is even contracting in Latin America thanks to plunging oil prices.
But at the same time, two countries that often take an adversarial stance toward the US and its allies were responsible for over one-third of last year's increases: Russia and China.
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WNU Editor: Both countries are experiencing economic problems right now, but I expect their arms build-up to continue.
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