October 15, 2018

China spends more on war toys

Remember that urban myth that if all the Chinese jumped at the same time the world would get thrown off its axis? Well maybe there is something in it after all.

China is set to raise its defence budget by 12.7 percent in 2011. Spending on all manner of war toys will go up to US$92 billion.

This is stressing out some of the other former top dogs in the region. China is now the second biggest spender on military stuff in the world.

Japan is paticularly jumpy, but even they spend around US$47 billion a year on their ‘self defence’ force. This makes them the 7th biggest military spender on the planet.

Just when China watchers might be about to start stressing out about another cold war arms races and regional tensions, let us consider the military budget of the United States of America. They have the No.1 spot tied down with a whopping US$663 billion.

US military spending is 4% of GDP. China’s is 2% of GDP.

The announcement comes a day ahead of the annual National People’s Congress, at which the Communist Party will outline its five-year plan.

“China’s modernisation of its military and increased activity is, along with insufficient transparency, a matter of concern,” Yuki Edna, Japan’s chief cabinet secretary, said on Thursday.

Relations have been strained between China and Japan over disputed isles in the South China Sea, where there are large potential reserves of oil and gas. There has not been much love between Japan and China for a longtime. Both are hungry for natural resources.

Newswarped thinks China learnt years ago that military power was no use if a country did not have economic power.

Now that China has grown into one of the strongest economies in the world, it is only natural that they will want to upgrade their armed forces to enhance their already considerable international power rating.