China Continues It's Massive Military Buildup As It Declares That It Will Raise Defense Spending By 12.2% For 2014

China Raises Defense Spending 12.2% For 2014 -- Wall Street Journal

Budget Signals President Xi Jinping Determination to Assert China's Power

BEIJING—The double-digit increase in China's 2014 defense budget amounts to the biggest increase in absolute terms in at least a decade—$14.4 billion—and serves as a sign that Beijing is determined to prioritize military spending as the Pentagon faces cutbacks.

The 12.2% rise in military spending unveiled in a government budget plan Wednesday wasn't unusually big in percentage terms; China's defense budget has grown by an annual average of more than 10% for over two decades.

Measured in absolute terms, the 88.03 billion yuan ($14.4 billion) increase is the largest since at least 2005 and takes China's overall military budget to 808.23 billion yuan ($131.57 billion)—more than double what it was in 2007, according to official Chinese figures.

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