India now has the fourth-largest defence budget, according to the 2016 Jane’s Defence Budgets Report, released by research firm IHS Markit on Dec. 12. While Russia was at the fourth place last year, in 2016, it slipped to the sixth spot. The US, China, and the UK remain the top three. Source: Quartz
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The increasingly rapid adoption of industrial robots on Chinese production lines is set to hasten the fall in manufacturing employment. Among companies that intend to purchase robots in the coming 12 months, 72.7% said this would mean job losses, according to a Financial Time. Source: CHina Economic Review
China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. The development is likely to be welcomed by the German government. Source: Reuters