China ramps up military spending — and it’s now nearly four times India’s outlay
- Earlier today, the Chinese government predicted that its economy would grow in the range of 6-6.5% in 2019, a decline over the 6.6% growth it posted in 2018.
- Concurrently, the Chinese government plans to hike defence spending by 7.5%.
- The spending hike will take China’s
militarybudget this year to 1.19 trillion yuan ($177.5 billion).
Concurrently, the Chinese government plans to hike defence spending by a higher rate - at 7.5%. According to the Chinese government, this is a “reasonable and appropriate” increase in light of national security interests and military reforms.
While this is a slower rate than last year’s 8.1% hike, it still represents a considerable jump over growth and overall spending estimates. The spending hike will take China’s military
To put this number into perspective, India’s defence spending this year of ₹3.18 trillion ($45 billion) - its highest outlay ever - is a mere quarter of this figure.
In turn, China’s defence spending is a quarter of the US government’s planned outlay. The Trump administration has backed a defence budget of $750 billion for 2019.
China’s increased military spending this decade (2011-2015 had seen double-digit hikes in China’s defence budget) to bolster its
The country does not provide a breakdown on where its defence spending goes, which has further riled neighbours like Japan, who, like India, boosted its own military budget to counter China’s territorial incursions in Asian waters.
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