Introduction to Global Economic Governance
Reform of the World Trade Organization and International Financial Organizations
Addressing Expenditures on Militarization
Addressing Expenditures on Militarization
“World military expenditures topped $839 billion in 2001, up from $798 billion in 2000.”
Absent from the greater part of the intergovernmental discourse on international finance is the reference to the expenditure on arms and militarization. World military expenditures topped $839 billion in 2001, up from $798 billion in 2000. According to the UN Human Development Report, it would take $80 billion annually over a ten-year period to eradicate poverty and address corresponding issues of sustainable development worldwide. WFM works to draw attention to this issue and to highlight that there can be no sincere effort on sustainable development and elimination of poverty without addressing the direct link and detrimental effects of the worldwide arms trade and investment in militarization.
