China's defence budget skyrockets, again

While all eyes were on the US this week as it unveiled its heavily duct-taped defence budget, the superpower on the other side of the globe did the same with considerably less fanfare. And duck tape.China announced it would hike its defence spending by 12.2 percent to 808.23 billion yuan ($132 billion). It’s another year of double digit growth for the People’s Liberation Army’s (PLA) defence spend, which has increased by more than 10 percent every year for a decade.The escalation is a concern fo...
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