Economic

China Announces 12.2% Increase in Military Budget

“China announced on Wednesday that it would increase its military budget for 2014 to almost $132 billion, a 12.2 percent rise over last year. The rapid growth in defense spending is another sign of the country’s goal of becoming a dominant military presence in the Pacific, with a navy able to project power across the region.”

Source: China Announces 12.2% Increase in Military Budget – NYTimes.com

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