- March 5, 2023
- Posted by: admin
- Category: Daily News
- 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.