Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government by Ryan King
China is planning to surge its defense budget by 7.2%, a higher rate of expansion than its “around 5%” economic growth objective for 2023.
In its national budget unveiled Sunday, China allocated 1.55 trillion yuan ($224 billion) to its military, as geopolitical tensions with the west over the status of Taiwan and the South China Sea loom, the Associated Press reported. For comparison, the U.S. has authorized roughly $858 billion for the fiscal year of 2023.
“Our armed forces, with a focus on the goals for the centenary of the People’s Liberation Army in 2027, should work to carry out military operations, boost combat preparedness and enhance military capabilities,” Premier Li Keqiang said, per the report.
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