LONDON (Reuters) - Asia's defence spending overtook Europe's for the first time last year, the International Institute for Strategic Studies (IISS) said on Thursday, reflecting China's military rise and shrinking European economies.
In its annual report on the world's militaries, it said China's defence spending in real terms rose 8.3 percent between 2011 and 2012, while in Asia as a whole, spending rose 4.94 percent last year.
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