China’s defense budget will increase by 7.2% this year to approximately $245 billion, focusing on military modernization amid regional tensions, particularly regarding Taiwan. This growth reflects a slowdown in the economy, yet China’s military remains the second-largest globally. Premier Li Qiang indicated a preference for peaceful solutions but opposition to Taiwan’s independence remains firm.

China has announced an increase of 7.2% to its defense budget for this year, aiming to build a larger and more modern military. This adjustment was revealed during the National People’s Congress, where delegates convened in Beijing. The new budget will amount to approximately $245 billion; however, experts believe that China’s overall defense expenditure could be as much as 40% higher when considering items listed under alternative budgets.

This budget increase mirrors last year’s growth rate, which is considerably lower than the double-digit hikes seen in preceding years. The slower rise reflects the nation’s economic deceleration, with the government setting a target of around 5% growth for the upcoming fiscal year. Nevertheless, China’s military expenditures remain the second-largest globally, trailing only the United States, and the country maintains the world’s largest naval force.

Growing tensions with the United States, as well as issues concerning Taiwan, Japan, and territorial disputes in the South China Sea, are driving advancements in military technology, including stealth fighters, aircraft carriers, and nuclear arsenals. The People’s Liberation Army, which is the military branch of the Communist Party, has established bases on artificial islands within the South China Sea, emphasizing its primary aim of asserting dominance over Taiwan, which is recognized as an independent democracy.

Recently, China sent a modest contingent comprising just five aircraft and seven vessels into regions adjacent to Taiwan, following a more extensive deployment of numerous aircraft days prior. Such actions are interpreted as psychological efforts to undermine Taiwan’s defense capabilities, which have been fortified through U.S. military assistance including F-16 aircraft, tanks, and missiles, as well as domestic defense enhancements.

During his address at the Congress, Premier Li Qiang reiterated China’s preference for a peaceful resolution concerning Taiwan while firmly stating that the nation “resolutely opposes” the push for Taiwan’s formal independence and the support from foreign allies.

In summary, China’s 7.2% increase in defense spending reflects its endeavors to modernize and expand its military amidst regional tensions, especially concerning Taiwan. While the current growth rate suggests a cautious approach, the nation’s military remains a formidable force, with larger expenditures anticipated when accounting for all military-related budgets. Premier Li Qiang has also emphasized a desire for peaceful resolutions, yet strongly opposes Taiwan’s independence aspirations.

Original Source: apnews.com

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