China's Arms Merchants: Profits in Command

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Abstract
Since the founding of the People's Republic of China, Beijing has engaged in foreign arms transfers. Transfers during the early period went almost unnoticed because they were on a very small scale, were almost invariably gratis, and had little or no impact on the world's arms trade. This low profile changed during the 1980s as China became one of the world's major arms dealers. Beijing estimates that income from arms exports is about US$1.34 billion annually, but other sources estimate that it is over US$2 billion. This dramatic increase attracted attention in October 1987 when Chinese Silkworm missiles fired from Iran badly damaged oil tankers in the Persian Gulf, including American-reflagged Kuwaiti tankers. Only then did the international community recognize that China had become a major arms supplier to the Third World.

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