China increases military spending in face of ‘escalating’ threats

• China announced on 5 Mar an increase in its military spending while warning of “escalating” threats from abroad, at a meeting of its parliament that is set to hand Xi Jinping a third term as president.
• The hike in defence spending marks the eighth consecutive single-digit increase. As in previous years, no breakdown of the spending was given, only the overall amount and the rate of increase.
• Beijing is nervous about challenges on fronts ranging from Taiwan to US naval and air missions in the disputed South China Sea near Chinese-occupied islands.
• China’s reported defence budget in 2023 is about a quarter of proposed US spending, though many diplomats and foreign experts believe Beijing under-reports the real number.

External Link : https://www.channelnewsasia.com/asia/china-increase-military-spending-escalating-threats-us-taiwan-south-china-sea-3325836