LONDON. Oct 9: Despite major cutbacks, the United States remains the strongest military power in the world — and Russia's military capabilities continue to decline, a leading research centre said in its annual survey released Wednesday, reports AP.

Since 1992. Russian military spending h|^ fallen by about 45 pe^k^Rp around 82 billion dolla^^er year, the In-ternationar Institute for Strategic Studies said. But despite economic difficulties and its decline from military superpower status. Russia continues to spend more on the military than any country except the United States.

The institute said there were no new military trends following President Boris Yeltsin's election to a second term in June. But it concluded that "the

decline in capability in all de-Eartments of the Russian armed

>rces seems set to continue."

In contrast, it said, the United States is pushing ahead with plans for a capability to fight two major regional conflicts at the same time, if necessary and expects to improve its ability to rapidly deploy forces outside the country.

During the past 12 months, the institute said, major military developments Included the deployment of NATO-led peacekeeping troops to Bosnia and the renewed US commitment to military alliances in the Asia-Pacific region with Japan. Australia and New Zealand.

Washington also showed a commitment to Taiwan by deploying carriers when tensions with China heightened before Taiwan's presidential election in March, it said.