Trends in South American weapons purchases at the beginning of the new millennium

In recent years, with some frequency it is heard that Latin America, especially South America, is witnessing the rise of an arms race. Frequent reports in the press and strong statements made by politicians in the region have fueled this fear. At the same time, scholars have also reached to this conclusion, as pointed out by Malamud and Garcia: "The famous arms race in Latin America, led by Venezuela, is no longer just talk."