China on Wednesday announced that it will increase its military budget for 2014 to almost 132 billion dollars, which means an increase compared to last year by 12.2%.
The pace of expenditure growth is higher than in recent years. In 2013, defense spending rose 10.7 percent over the previous year. The military expenditure of China is after the United states the second largest in the world and are bigger than the military budget of Japan, South Korea, Taiwan and Vietnam combined.
Source: www.nytimes.com.
The pace of expenditure growth is higher than in recent years. In 2013, defense spending rose 10.7 percent over the previous year. The military expenditure of China is after the United states the second largest in the world and are bigger than the military budget of Japan, South Korea, Taiwan and Vietnam combined.
Source: www.nytimes.com.