China's Defense Budget Surge Amid Economic Hurdles

China plans to boost its defense spending by 7.2% this year, despite economic slowdowns and geopolitical tensions. The military budget increase aims at modernization by 2035. However, China's defense spending decisions face scrutiny amid economic constraints and recent corruption scandals within the People's Liberation Army.

China has announced an ambitious 7.2% increase in its defense spending for the year, maintaining a consistent growth trajectory despite three years of sluggish economic expansion and mounting geopolitical challenges, stretching from Taiwan to Ukraine.

The defense budget, unveiled in a recent government report, now stands at 1.78 trillion yuan ($245.65 billion), well above the country's economic growth target of around 5%. This reflects Beijing's commitment to military modernization as President Xi Jinping aims for full military advancement by 2035.

Despite corruption scandals plaguing the People's Liberation Army in recent years, China remains the world's second-largest military spender, trailing the United States. The increased budget comes amidst calls for strategic prioritization due to broader economic constraints.

(With inputs from agencies.)