Under Xi, China’s Defence Budget Seen Defying Economic Slowdown

Reuters

17 February 2015

BEIJING, Feb 17 (Reuters) – President Xi Jinping is expected to authorise robust defence spending for this year despite China’s slowing economy, determined to strengthen the country’s armed capabilities amid growing unease in Beijing at Washington’s renewed focus on Asia.

While China keeps the details of its military spending secret, experts said additional funding would likely go toward beefing up the navy with anti-submarine ships and developing more aircraft carriers beyond the sole vessel in operation.

The military budget will be announced at the start of the annual meeting of China’s parliament on March 5. Last year, defence spending rose 12.2 percent to $130 billion, second only to the United States.

…”Higher Chinese spending, coupled with increasingly aggressive actions and assertive language, is likely to further push countries into the U.S. nominal embrace,” said Richard Bitzinger, a military analyst at the S. Rajaratnam School of International Studies in Singapore.

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Last updated on 01/12/2015