China gathers National Security and Defense Council, who is going to discuss military spending. Today, China is in second place in terms of the military budget (after the US) in the world. AT 2019 China’s military budget was (in terms of american currency) about 177 billion. At the same time, it was increased by approximately 7,5%. And in 2017 and 2018 years, the growth of the budget of military departments amounted to 7 and 8,1 percentage respectively.
Now in Beijing they talk about, that it is necessary in some way to review the parameters of expenditures for the defense industry. The reason for this review was economic problems., pandemic and quarantine measures.
The Ministry of Defense of China notes, that military spending should continue to rise. However, the growth will be adjusted in the direction of reducing its pace.. The main task of the Treasury and law enforcement agencies is nevertheless the coordination of the military budget at the level of, which would match 2% GDP countries.
At the same time, there are politicians in China, who believe, that the growth of the military budget this year is no longer worth talking about. The reference goes to the fundamental principle., which in recent years has been operating in China: synchronization of the growth of military spending of the country with the growth of the economy. In other words, the military budget will be adjusted so, how it will correspond to the adjustment of the entire economic system of China.
China's military spending growth pattern with 2010 of the year (in billions of yuan):
This graph shows, what the military budget of the PRC with 2010 more than doubled.
Sina explains the situation with such significant growth.:
The ruling elites of the United States no longer hide their hostility towards China. They became unprecedentedly insane.. China has needed to build up its military power over the past few years., to hold back the US.
At the same time, in China, that now the military budget is about 1,2% GDP of the People's Republic of China, lower than US, as well as below Washington’s required figures for its “allies” on NATO (value for alliance countries – 2%). In this way, China is going to continue to increase its military spending.
