China to spend more on its military than all its neighbors combined as budget doubles.

Two Jian-10 fighter planes of China air force take off…

Two Jian-10 fighter planes of China air force take off from a military base December 18, 2006. The air force has been equipped with the new generation of Jian-10 fighter, independently designed by China. The fighter is capable of launching “precision attacks while hedgehopping and making long-distance assaults at altitude above 10,000 metres.” Image: China Today

Global research group IHS has forecasted Beijing’s military outlay will double from its 2011 US$119.8 billion spend to US$ 238.2 billion by 2015.

That exceeds the US$ 232.5 billion spent by the region’s 12 key defense markets, including Japan and India.

Sarah McDowall, head of IHS Global Insight’s Asia Pacific desk, said the projected 18.75 per cent annual growth rate will “intensify concern among various governments” in the region.

“The political interplay is complex. Perhaps most importantly, it has prompted Washington to undertake a diplomatic campaign to reassert its profile in the Pacific . . . and to maintain a situational awareness of China’s military development,” she said.

Source: Peter Simpson for telegraph.co.uk.

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  • EGS

    with our looming budget cuts and the extremely low cost of Chinese labor, this seems to imply that we will be severely lacking in defense. Any chance that our lenders are pushing policy (or lobbying) on our shores to cut the military budget?