The rising sun: China's defence budget eclipses Indian expenditure
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China announced that its annual military expenditure will exceed $100 billion for the first time in 2012 as tensions in the Asia-Pacific region continue to intensify amid mounting budgets and escalating military might.At 670.274 billion yuan ($106.39 billion), the 2012 budget is up 11.2% on last year’s $92 billion. It represents another year of double digit growth for China’s military spending, which accelerated 12.7% in 2011 on 2010.It dwarfs India’s 2012 spend, reported to be around $36 billio...
