China to Double Military Budget

Discussion in 'East Asia & The Pacific' started by Pathfinder, Dec 13, 2016.

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  1. Pathfinder

    Pathfinder Lieutenant Colonel

    Dec 17, 2015
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    China is set to nearly double its military spending this decade as an arms race heats up in Asia.

    by Alanna Petroff
    December 12, 2016: 7:41 AM ET

    China's defense spending will balloon to $233 billion in 2020, up from $123 billion in 2010, according to a new report by IHS Jane's.

    Regional power India is also on a spending spree. This year, $4 billion in additional defense funding pushed it ahead of Saudi Arabia and Russia to rank among the top five global spenders for the first time.

    Military spending across the Asia-Pacific region has boomed in recent years as regional economies have grown. Rising tensions around the South China Sea could be a catalyst to splash out more cash.

    "A key trend in [Asia-Pacific] is the shift from a traditional focus on territorial defense towards power projection," said Craig Caffrey, a principal analyst at IHS Jane's. "This is new for the region and is likely to increase military-to-military contact between states."