Brunei Darussalam: Rising Military Spending
The Oxford Business Group reported the following update on Brunei on 27th June 2014: +++++ Economic Update Military spending on the rise in Brunei Brunei Darussalam | 27 Jun 2014 Territorial disputes in the South China Sea have highlighted the ongoing tensions between China and countries including the Philippines, Vietnam, Taiwan, Malaysia and Brunei Darussalam, with the US also weighing in recently with its proposals for a bigger military presence in the region. Both Vietnam and Malaysia are undergoing regional military build-ups, and the Philippines doubled its defence budget in 2011 after pledging to conduct joint military exercises with the US. Meanwhile, Brunei has not been complacent, with additional spending and partnerships shaping the defensive posture of both the nation and the region for coming years. In late May, the Association of Southeast Asian Nations (ASEAN) took a step closer towards establishing a formal arrangement for a regional defence industry col...