Chinese military spending increases by 11.2% in latest budget

[alp227]

Source: AP

China is to boost its defence spending by 11.2% in 2012, the latest in nearly two decades of double-digit increases each year.

Although the planned figure is less than last year's 12.7% increase, China's military leaders have said they are unhappy with recent moves by the Obama administration to increase the US military presence in the Asia-Pacific region.

Only twice since the early 1990s has the increase been less than double digits.

National People's Congress spokesman Li Zhaoxing said China's defence spending would increase by 11.2% over actual spending last year to hit 670.2bn yuan (£67bn/$106.4bn) in 2012, an increase of about 67bn yuan.

Read more: http://www.guardian.co.uk/world/2012/mar/04/china-increases-defence-spending-11-2

[JDPriestly]

1. Enabled by our corrupt politicians, our greedy corporations that invest in China

but not in the US, and us, the American consumers who buy all the trinkets and junk China produces.

[FreakinDJ]

3. The benefits of free trade

[Fearless]

2. Just $106B for their defense budget, clearly they're not trying as hard as we are!

[dipsydoodle]

4. Reuters link

Li said the world has nothing to fear, and the money spent on the PLA paled in comparison with the Pentagon's outlays.

"You can see that we have 1.3 billion people with a large land areas and a long coastline, but our outlays on defence are quite low compared to other major countries," Li told a news conference before the annual session of the National People's Congress, the Communist Party-controlled legislature that will approve the budget.

"China's limited military power is for the sake of preserving national sovereignty, security, and territorial integrity," said Li, a former foreign minister. "Fundamentally, it constitutes no threat to other countries."

Asian neighbours, however, have been nervous about Beijing's expanding military, and this latest double-digit rise could reinforce worries in Japan, India and southeast Asian nations.

http://uk.reuters.com/article/2012/03/04/uk-china-defence-idUKTRE82302S20120304

[James48]

5. Chinese military pay

WHILE it is true that $106 Billion is a far lower military spending level than the U.S. has, you also have to acknowledge the differences in cost.

The U.S. all-volunteer military solider with about two years of experience is paid (as an E-3 PFC), about $1,868 a month.

The Chinese equivalent level soldier is paid about $170 a month.

So that $106 Billion in military spending goes a far greater distance in providing security.

[onethatcares]

6. maybe we can borrow from them

in order to keep up with their increase.

[On the Road]

7. Wondering if Part of This is to Provide Employment and Boost the Economy

especially now that the country is overbuilt. 11.7% sounds like a lot, but when compared to general economic growth over the last 20 years, it's not that much above average.

[lib2DaBone]

8. China will soon (if not already) dwarf the U.S.

Thanks to the marriage of corrupt Lawmankers and Corporations.

China is building 50,000 miles of high-speed rail, putting in Fiber Optics and putting in 50 , small, state-of-the-art package nuke plants.

While China is going around the world securing oil deals and ports.. we are pissing away $40 billion a month in Afghanistan.

And so it goes.. day after day... and no one in Washington or the media seem to notice.