US defence budget will equal ROW combined "within 12 months
Defence expenditure in the US will equal that of the rest of the world combined within 12 months, making it "increasingly pressing" for European contractors to develop a "closer association" with the US, corporate finance group PricewaterhouseCoopers (PwC) says.
The US defence budget reached US$417.4 billion in 2003 - 46 per cent of the global total.