When it comes to future military export markets, the rise of China remains one of the big variables. Even though the nation ranks as the second biggest military spender globally, it is not among the top 10 exporters or importers of military equipment. The latter situation stems partly from an arms embargo imposed by the West after the 1989 Tiananmen Square uprising. But there is clear market potential. The U.K., for example, saw 15% of its security-related exports in 2009 go to ...

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