China has officially surged into the fifth spot on the global list of arms exporters, overtaking the United Kingdom. Between 2008 and 2012, China's weapon exports skyrocketed by an incredible 162% compared to the previous five-year stretch, with Pakistan emerging as their primary customer. While the USA still holds the top position on the leaderboard, followed by Russia, Germany, and France, the major importers on the global stage remain India and South Korea. »
It looks like there's no such thing as a recession for the defense industry.