Why the global arms trade is booming

By M.F.

LAST month the emirate of Abu Dhabi held the International Defence Exhibition and Conference (IDEX), the Middle East's largest arms fair. The four-day event was a roaring success, playing host to 1,235 exhibitors and a record number of delegates. On the last day, the United Arab Emirates announced $5.2bn worth of weapons purchases from suppliers including France, Russia and America. The Gulf state’s hunger for big guns is hardly exceptional. The Stockholm International Peace Research Institute (SIPRI), a think-tank, recently released data showing that transfers of big weapons in 2012-16 reached their highest volume for any five-year period since the end of the cold war. At a time when international trade is flagging, why is the global arms trade doing so well?