China’s Beefed-Up Defense

China’s Beefed-Up Defense

from The Diplomat by Jason Miks

China’s annual defense budget is set to double by 2015 and exceed that of all other major Asia-Pacific countries, according to figures from leading defense consultancy IHS Jane’s. The numbers, which were sent through to me this week, suggest China’s defense budget will soar to $238 billion – more than the next 12 leading Asia-Pacific countries combined, and four times that of second place Japan, which will be spending an estimated $64 billion. As Rajiv Biswas, chief economist for the Asia-Pacific at IHS Global Insight, noted, Beijing has been broadly able to devote an increasingly large portion of its overall budget towards defense, and “has been steadily building up its military capabilities for more than two decades.” “This will continue unless there’s an economic catastrophe. Conversely Japan and India may have to hold back due to significant economic challenges. Japan’s government debt and the investment needed after Fukushima will impact defense spend. We ... Read More...