China Budgets Over USD 100-B for Military

China increased its military budget by 11.2% in 2012, pushing it above $100 billion for the first time.

This Asian neighbor has been increasing its defense budget every year and its announcement of its $106 billion military might is seen as part of response to Washington’s $740 billion-worth budget, which includes efforts to bolster presence in Asia and counter China’s dominance.

Beijing said it is developing an aircraft carrier, a stealth fighter jet, and missiles that can shoot down satellites.


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