China raises defence budget 7.2% amidst regional tensions.

China has announced a 7.2% increase in its defense spending for 2024, raising it to 1.67 trillion yuan ($230.60 billion), which is the second-highest in the world after the US. This follows a 7.2% rise in 2023's defense budget and comes amidst rising tensions with the US, Taiwan, Japan, and neighbors in the South China Sea. The budget is closely watched by China's neighbors and the US, who are wary about Beijing's strategic intentions and the development of its armed forces.

March 04, 2024
31 Articles