China is spending more money on the army, increasing the budget for defense.
China on Tuesday announced a 7.2 percent increase in its defense budget. This announcement in China’s defense budget largely reflects the increase from last year. Let us tell you that many foreign experts believe that this is only a fraction of the expenditure incurred by the People’s Liberation Army, the military wing of the ruling Communist Party.
China Defense Budget 2024: China on Tuesday announced a 7.2 percent increase in its defense budget. Already, China ranks second in the world with 1.6 trillion yuan (US$222 billion). The United States is in first place. This announcement in China’s defense budget largely reflects the increase from last year.
Tension increased from these 3 countries
China has always been at odds with the United States, Taiwan, Japan and its neighbors who share claims over the vital South China Sea. This is seen in the rise of increasingly high-tech military technologies, from fighter planes to aircraft carriers and a growing arsenal of nuclear weapons.
What do foreign experts say?
The official budget figures were announced Tuesday at the opening session of the rubber-stamp legislature’s annual meeting. Many foreign experts believe this is only a fraction of the spending by the People’s Liberation Army, the military wing of the ruling Communist Party. Once expenditure on R&D and foreign arms purchases are considered.
