A new arms race is exploding into Asia, with an expensive and extensive shopping list of new weapons. Who’s buying what — and where does Australia stand?

In the aftermath of the Cold War, the region has become a confused place where foes have become friends and supposed friends bicker over minor — and major — territorial differences. The problem is, the scatterings of conflicted islets which were once “no-go” zones, both diplomatically and developmentally, are now being seen as potentially valuable assets.

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