THE SIGHT of North Korea’s chubby leader, Kim Jong Un, shaking hands with Vladimir Putin on September 13th—having travelled by train to a spaceport in Russia’s far east to discuss selling its dictator a stash of North Korean weapons—was remarkable both on its own terms and for what it said about the business of selling arms. The world’s five biggest arms-sellers (America, Russia, France, China and Germany) account for more than three-quarters of exports. But up-and-coming weapons producers are giving the old guard a run for their money. They are making the most of opportunities created by shifting geopolitics. And they are benefiting from the Russian invasion of Ukraine.
