World’s War economy and America


Naseebullah Khan
As per the SIPRRI report 2020, there was no impact of Covid_19 on the arms industry rather it grew by 1.3 pc. The total arms trade in 2020 was 531 billion USD, of which a lion share was of the US. The report says that in the 100 biggest arms-producing companies in the world, 41 are located in America. Out of 531 billion USD, the US share was 285 billion USD, which was 54 pc of the total sale. The trade of the Chinese companies was 66.8 billion USD which was 13 pc of the total trade, an increase of 1.5 pc from 2019. The Share of 26 companies of Europe was 21 pc with a trade of 109 billion USD. Moreover, 7 companies of the UK traded 37.5 billion USD, which was a 6.2 pc increase from that of 2019 trade. The share of French companies is 7.7 pc. Whereas the trade of 9 Russian companies was 26.4 billion USD which was 28.2 billion USD in 2019 which stood with 5 pc share. The arms trade of South Korea increased 4.6 pc from that of 2019 and stood at 6.5 billion USD. The overall increase was 17 pc from that of 2015. During the First world war 1, the US economy was in recession, whereas in the 1930s, it was in depression. The US started to focus on military equipment so that to flourish the arms business. The country established War mobilizing board along with War production board. After the second world war, it is said that two-thirds of the US economy had been assimilated into the war efforts by the end of 1943. A new phase of sophisticated weapons has taken place in the world. The weaponization of space, sophisticated missile technology, hydrogen bomb, and Chemical and biological weapons will further lead the world towards destruction. Would the world leaders with special reference to Uncle Sam show sanity and focus on the war against poverty, environmental hazards, diseases, and social development? Could humanity and pacifism first-ever prevail in their policies?