The Cold War is over. But a new type of multiplier structure with regional conflicts is emerging. Pressures to reduce military spending in the developed countries are increasing due to budget deficits, recession, need for investment in social infrastructure, and so on. This is counterbalanced by the loss of jobs due to military cutbacks.

Developing countries faced with the immense task of reducing poverty are unable to decrease military spending due to the emergence of regional conflicts and internal problems, whereas the dissolution of the Soviet Union creates new nuclear risks. The problems of international and regional security are interwoven with the declining world-wide economic condition, restructuring of economic alliance, environmental problems and declining manufacturing activities.

1. The objective of this book is to present an integrated set of original papers from leading authorities in the field related to optimal balance between arms reduction and regional and international security. The emphasis is on economics and management rather than politics and diplomacy.