China’s defence budget continues to rebound
China is modenising its military at a terrific rate, buoyed by large annual increments of money. (Gordon Arthur)
China’s spending on the People’s Liberation Army (PLA) will rise 7.1% compared to last year, according to a 5 March announcement about Beijing’s defence budget for 2022.
In monetary terms, this amounts to CNY1.45045 trillion ($229.39 billion). In fact, the overall increase of approximately $20 billion compared to last year is the largest ever annual jump.
Putting this in perspective, this year’s lump-sum increase eclipses Taiwan’s total annual defence budget of $15.4 billion.
This budget underscores that military spending in China is experiencing a strong rebound. Last year, China increased spending by 6.8% to CNY1.355 trillion, whereas two years ago, Beijing approved just
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