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China 2018 Military Budget up 8.1 Percent from 2017; Second Largest Next to the U.S.

Radio Free Asia reported that, based on the budget recently released, China’s 2018 military budget will increase to 1.1 trillion yuan (US$ 175 billion), an increase of 8.1 percent over 2017, surpassing the 6.5 percent projected increase in China’s economic growth. This made China the second largest country in military expenditures, second only to the U.S. The article stated that there has been speculation that the increase in military spending was meant to challenge the U.S. and the existing international order. Xinhua defended the increase saying that 2018 will be the third time since 2013 that the increase in military expenditures was a single digit number. It argued that the investment in the military is lower than other countries in terms of percent of GDP and in terms of per capita amount. It also assured that China will not pose a threat to any country.

Source: Radio Free Asia, March 6, 2018