25' Thoee statiatics, awescme by thenselves, becone stlrr nore nunbing nhen usedas a basls for extraporating trends for the coning decade i" " eiiuaiiL otexacerbated teD6ion6 and deadlocked disarrnanent negotlations. ff hre asauue a mere2 per cent annual lncrease in global rnilitary outlays, which would be a trlumph of reatraint - by hlstoricar standards - of niritary apendlng durrng periods ofserious tensiqrs, thrs wilr result rn a lrorld total 0f approxinately 9850 biuron,in today's prices, by the turn of the century. Assurning a 3 per cent rate of ,increase, the corresponding frgure would be iver gl,o20-birliin during the aar* period. 26. In assessing the socio-economic conseguences of these trends, the arns race isbe ing vlered as a dynamlc process of guantitative accurnulation anVor qualltativeinProvenents of varrous arnaments and arrded forces. The dynanrcs of tlie arns race, houever, invorve nore than a sun total of nilitary expenditures anal an uparated list of its major and ninor participants. The forces lnafa.tv. it, the purposes itserves' and its various forns of manifestation crucially affect its ioc-io-econornicconsequences and the nature of neasures required to hall ana reverse ii. 27. Wlth an uplrard trend at an estlnEted rate of about 3 per cent per annun (involun*) duling the r.ast four years, norrd nilitary apending has risen rather faaterthan in the previous four years, in spite of the deteriorating perfornance of therrorld econony (chart l). The economic burden of nilitary "p"rraing measured aa: a6hare of the norrdrs total output has thus bec"one heavler. Also, its soclal anilPolitical inplications are nore serious as econornic burdens carry nithin then theaeeds of soclal dlscontent and poritical instability which thwarls the proceas ofd€veLoFrent and promotes tension withln and irnong nations. whiLe the arms race haavarlous aspects and global consequences, efforts to first halt and then reverse lt6accelerating nonentun need to tackle the problen at its source.
**Analysis**
The text appears to be discussing the trend of increasing military expenditures and its socio-economic consequences, including the arms race and its impact on the economy, social discontent, and political instability. The text also mentions the need to halt and reverse this trend, suggesting that it is a critical issue that requires attention.

**Category**
Economic development, International trade, Employment