Thu, 23 Jan 2014 07:46:56 GMT
Japanese Prime Minister calls for cuts in military spending
The Prime Minister of Japan Shinzo Abe, speaking at the Davos, Switzerland located World Economic Forum, said that Asian countries should decrease the military spending, despite the territorial dispute with China. Instead, the money must be invested in human capital and innovations. In 2013, China increased the military budget to $122 billion, while Japan raised it twice during the year.