China spends more on defence, emphasis on militarisation
09 March, 2018, 09:34 | Author: Diane Mills
China spent $151 billion on the PLA past year, the second largest defence budget in the world but still four times less than the $603 billion United States outlay, according to the International Institute for Strategic Studies, a London-based think tank.
It [China's defense budget] looks to be connected to the nation's economy. "We see time and time again this reinforcement of the views that suggest this is a military focus, not an economic focus, not a diplomatic focus, it's not to ensure the navigation of all ships". "The country has seen its maritime interests being increasingly infringed upon in recent years, and thus seeking a stronger military is natural for it to safeguard its interests and counter any threat that may materialise from the aggressive posturing of others upset by its rise".
China on Monday set its Gross Domestic Product (GDP) growth target at around 6.5 percent for the year 2018-19, according to a government work report.
"China is facing a rapidly aging population".
Whilst Premier Li didn't talk about new trade sanctions from the U.S., he did mention challenges from global protectionism. I think Chinese leaders understand the changes taking place domestically. All he would say is that countries have to make their own choices when it comes to adjusting militaryspending and that they based theirs on the economy and their defensive needs.
For more, we recommend reading Trivium or the New York Times (paywall), or the full Work Report, Budget, and plan of the NDRC (National Development and Reform Commission), courtesy of the Wall Street Journal.
This year's defence budget for China would be at a whopping 175 billion dollars. In 2016, it grew by 7.6 per cent. The combined deficit of general public budget and overnment-managed fund budget could rise to 4.1% of GDP this year from 4% last year, Liu wrote. There's a slight increase. China will still remain as one of the world's fastest-growing economies in the world. But it's a quarter of what the USA defense budget.
Defense spending is forecast to rise 8.1% in 2018, faster than the 7% increase a year ago, according to a budget document released Monday. Chinese officials announced that the government plans to increase military spending this year by 8 percent.
Perhaps the most relevant comparison of military budgets is between China and its rival India.
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