China’s 7 percent increase marks the smallest military spending figure in seven years — a sign that the country isn’t trying to outdo America in 2017.
Five days after President Donald Trump called for hiking the U. S.’s defense spending , China is following suit.
Chinese Premier Li Keqiang is expected to announce Sunday, during remarks to the National People’s Congress (NPC) in Beijing, that the country will boost its defense budget by 7 percent.
But the figure marks the smallest military spending increase in seven years and continues a trend of lowered growth amid China’s slowing economy — a sign that the country isn’t trying to outdo America in 2017.
Last year, China’s defense budget grew by 7.6 percent, according to data from industry analysts IHS Jane’s , following several years of double-digit growth.
« China’s military development and construction is to continue. This is the requirement for the defense of our national sovereignty and security, » NPC spokeswoman Fu Yang said Saturday.
Although China has become the second-biggest defense spender in the world, it’s investment still pales in comparison to that of the United States.
Trump has proposed increasing America’s defense and security spending by $54 billion while putting the budgets of other lower-priority government agencies on the chopping block.
