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BEIJING (Reuters) - China will boost military spending by 11.2 percent this year, the government said on Sunday, unveiling Beijing's first defence budget since President Barack Obama launched a policy "pivot" to reinforce U.S. influence across the Asia-Pacific.
The increase announced by parliament spokesman Li Zhaoxing will bring official outlays on the People's Liberation Army to 670.3 billion yuan (67.2 billion pounds) for 2012, after a 12.7 percent increase last year and a near-unbroken string of double-digit rises across two decades .
Originally posted by TheGreatest
Every country in the world seems to be gearing up for something, and it's not just the middle east now. what they are gearing up for is unknown but a climax is soon to follow, maybe China is boosting it's budget for purely defence reasons but why would a country with the largest Army in the world need to boost it's budget when it currently has enough man power and munitions to fight off any invading power.
China, will undoubtedly be the new leading super power once the new budget takes effect.
Originally posted by charles1952
I don't understand the idea that "Everybody is gearing up." Isn't the US defense budget being cut in real terms? The Navy is mothballing ships and Army strength levels will be cut again. I'm Mr. Confusion, and I'm wishing you all a happy day.