Xi’s Strong Military Dream: China’s Defense Budget to Grow 8.1% to ~$175 billion This Year, Rate Exceeds ~6.5% Economic Growth Target
A major announcement today from the National People’s Congress in Beijing: China’s defense budget will grow by 8.1% to ~$175 billion (1.11 trillion yuan) this year, a rate increase from the 7% in 2017. This latest raise represents a reversal of three years of slowing growth. It exceeds this year’s economic growth target of ~6.5%.
Here’s […]