China is increasing military spending amid uncertainty over the Ukraine war
China has decided to increase its defense spending by 7.1 percent, the highest increase since 2019. This increase in spending is significant, as the country's economy is projected to grow at the lowest rate of 5.5 percent this year in many decades.
In the wake of the political instability caused by the Ukraine war, the world will keep a close eye on China's defense budget. China has refused to support either side or condemn the Russian attack. Many experts believe that China could look for opportunities in the Taiwan campaign. Beijing views Taiwan as a rogue state and often hints at plans to seize the country by force.
Mohan Malik, a visiting fellow at the Washington-based Near East South Asia Center for Strategic Studies (NESA), said:
"In the Indo-Pacific region, it's like living for decades," he said.
China will spend ৯ 229.48 billion on defense this year, according to estimates by Prime Minister Li Keqiang to the National People's Congress and the Chinese parliament. China's defense budget will increase from 7.6 percent in 2020 to 7.8 percent in 2021.
Researchers estimate that the actual cost will be about 26 trillion dollars. However, much more will be spent on the military border road infrastructure sector, the cost of which is shown under the defense sector.
"We will increase military training and war readiness, conduct military operations, and be determined and flexible in the interests of protecting China's sovereignty, security and welfare," Li said.
Researchers say China is now forced to increase spending on defense research and development because the United States is blocking the flow of their technology. Some European countries have taken similar steps.
Military behavior in neighboring areas is a major concern for China. Most of China's neighbors, including those bordering the South China Sea, are appalled by the strength and rise of the People's Liberation Army, which represents China's army, navy and air force.
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