For the nation's arms merchants, it must often seem like the week before Christmas. Customers keep flocking in to inspect the shiny new toys, and sales keep booming. In recent months the U.S. has sold 18 F-4 Phantom jets to South Korea for $164 million, a guided-missile frigate to Australia ($183 million) and antitank missiles to Sweden and Switzerland ($155 million). While Egyptian President Anwar Sadat was pressing at Camp David for up to 120 of America's F-5E Tiger fighter-bombers totaling close to half a billion dollars,...
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