China’s Defense Budget Increases by 10.7% for 2013

China is to increase its defense budget by 10.7 per cent this year. The rise continues a trend of double-digit hikes over the last 20 years. The authorities said military spending will reach 90 billion euros for 2013. Despite the huge cash injection it underscores a trend of slower growth in the Chinese economy with Premier Wen Jiabao aiming for 7.5 percent growth this year, lower than previous projections. Admiral Wang Jianxin says China is not sabre- rattling, but ensuring its security: “We do not wish to have a war. But the Chinese military personnel and forces are firmly determined in terms of safeguarding China’s security, interests, sovereignty and territory.”

About GREGinSD

A Generation X|Y'er that resides in beautiful San Diego, Ca.
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