China hiked military budget by 12.2% for 2014

March 11, 2014

The People’s Republic of China announced to raise its military budget for 2014 by 12.2% to $132 billion. The hike in defense spending would seek to develop more high-tech weapons and to beef up coastal and air defenses.

It would also allow Beijing to create a modern force that will project power not only across the disputed waters of the East and SouthChinaSeas but also into the western Pacific and IndianOceans.
Goal: To become a dominant military presence in the Pacific, with a navy able to project power across the region.
This hike in defense spending would create tension among China’s neighbors viz. India, Japan, South Korea, Taiwan, Vietnam, etc.
The budget spike comes as Asia reacts nervously to a string of recent moves by China to assert its sovereignty in disputed territory, expand its military reach and challenge the traditional dominance of U.S. forces in the Asia Pacific region.
From India’s point of view, China’s defense spending is far higher than $36 billion allocated in last month’s interim budget that amounted to 10% hike.

Note: China’s military spending is the second largest in the world, behind that of the United States.

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