China's Defense Spending Surge Amid Geopolitical Tensions

China plans to increase its defense spending by 7.2% in 2023, maintaining a growth rate amidst economic challenges and geopolitical tensions. Despite corruption scandals within the People's Liberation Army, the budget remains high, aligning with Beijing's goals for military modernization, with spending second only to the U.S.

China has announced a 7.2% increase in defense spending for this year, a move indicating its commitment to militaristic advancement amidst economic hardships and geopolitical tensions. This decision was detailed in a government report set for release in parliament.

Currently, China stands as the second-largest military spender globally, trailing only the U.S., which has proposed a military budget of $850 billion for 2025. Despite China's economic growth target of approximately 5% for this year, the defense budget continues to surpass this figure, reflecting Beijing's persistent focus on military modernization.

This increase is in place despite ongoing corruption scandals in the People's Liberation Army, which have resulted in the downfall of two former defense ministers as well as a member of the Central Military Commission in the past couple of years.

(With inputs from agencies.)