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Monday, March 16, 2015

China now world's third-biggest arms exporter

F-22P class FFGChina managed to overtake Germany to become the world's third-biggest arms exporter, a new study by the Stockholm-based International Peace Research Institute (SIPRI) showed Monday.

Although its roughly 5-percent share of the global arms export market remained small compared to the combined 58 percent coming from the US and Russia, the data highlighted China's prospering domestic defense industry churning out fourth-generation fighter jets, navy frigates and a wide range of rather cheap and simple weapons used in conflicts around the globe.

China had long been dependent on arms imports mainly from Russia and Ukraine, but its fast-growing economy and the frequent copying of foreign technology had reversed the trend, SIPRI said in its report covering the 2012-2014 period.

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