China increases its military budget while announcing growing threats

• China will increase military spending by more than 7% this year.
• It was also disclosed that China would aim for a slightly lower 5% economic growth rate this year.
• The NPC conference this week will also formally install Mr. Xi as president of China.

Although issuing a warning of “escalating” dangers, China will increase military spending by more than 7% this year. The National People’s Congress (NPC), a rubber-stamp legislature that will ratify President Xi Jinping’s third term, made the announcement.

Beijing’s military spending is still well behind the United States, which is four times larger at about $225 billion (£186 billion).

Analysts, however, contend that China understates the amount it spends on defense. “External attempts to control and contain China is growing,” outgoing Premier Li Keqiang told the NPC.

“The armed forces should step up their overall military readiness and training,” he said.

At the conference, it was also disclosed that China would aim for a slightly lower 5% economic growth rate this year. The meetings referred to as The Two Sessions, take place once a year.

Yet, this year’s meetings are especially noteworthy since delegates are anticipated to reform a number of important Communist Party and government organizations.

The NPC conference this week will also formally install Mr. Xi as president of China and commander in chief of the armed forces.

In October of last year, when the Communist Party elected him to head them for a third term, he solidified his place in the highest echelons of Chinese authority.

As Mr. Xi navigates deteriorating relations with the US over the Ukraine war and the latest spy balloon scandal, as well as warms his embrace of Russian leader Vladimir Putin, there has been an uptick in military investment.

Also, US government representatives have cautioned repeatedly that China may invade Taiwan in the upcoming years. China has increasingly shown off its military might in the skies and on the seas surrounding Taiwan, even deploying ballistic missiles.

China views Taiwan, which is self-governing, as a colony that would one day fall under its sovereignty.

The new premier, China’s equivalent of a prime minister who traditionally is in charge of the country’s economic and administrative functions, will also be introduced at the NPC. One of Mr. Xi’s most dependable coworkers, Li Qiang, is anticipated to fill the position.

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