China’s Defense Budget Has Only One Trajectory: Up

Amid its ongoing military buildup, Beijing recently announced a 7.2 percent increase in its defense budget for 2024—reaching a new record. This plentiful military budget hike is the latest in a 20-year long streak of China’s hefty annual defense spending increases that far outpace America’s spending handcuffs, fits-and-starts, and delayed enactment of military spending.

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