Sunday, March 4, 2012
China Increases Military Spending
Chinese government officials just announced that they plan to increase spending on national defense by about 12% in 2012. This is the second year in a row that the percentage increase in military spending has been in the double digits. China insists that the increases are necessary due to feed and clothe military personnel and conduct research, but there are rumors that the increase in spending will be used to keep other countries out of its air and water space. Still, Chinese military spending as a percent of GDP is much lower that that of America and other superpowers.
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I like to keep an eye on news like this and look at the implications that come with increasing spending on national defense. Where is the money coming from? Also, will another fraction of the government be deducted? Although, it isn't as much as America or some of the other countries spending in that department, a 12% increase is indeed a substantial increase. Who knows if the rumors are true about keeping other countries out of air and water space? This was an interesting article and I liked the speculation behind it. ~ Chet
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