Financial Times: China military budget hit by economic slowdown, says Xi Jinping
China’s economic slowdown, responsible for everything from falling luxury goods sales to steel plant closures around the world, has been officially blamed for another casualty — spending on the People’s Liberation Army.
In remarks published in the PLA Daily, President Xi Jinping, who also chairs the Chinese Communist party’s Central Military Commission, linked slower growth to a lower than expected increase in the country’s military budget, which was formally approved in March.
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