The launch of Intercontinental ballistic missile (ICBM) by North Korea on 4 July 2017 has sparked new tensions between United States, China and North Korea. The intercontinental ballistic missile has the capacity to reach 578 miles with the potential of reaching an altitude of 1700 miles. This would mean that the missile has the capability to get to Alaska, USA.
Following the end of the cold war and the break-up of the Soviet Union, there were rapid decreases in Russian military budgets. Soviet military expenditure had stood at almost USD $350 billion in 1988. However, by 1992 it had fallen to USD $60 billion and in 1998 was only USD $19 billion. The more flexible parts of the budget suffered the most, such as those for procurement and operations.
Authors: Wang Li & Palamdorj Bayartsetseg