Implications of growing Chinese internal and external challenges
July 8, 2020, 11:55 AM IST
SD Pradhan in Chanakya Code, World, TOI
https://timesofindia.indiatimes.com/...al-challenges/
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China which has expansionist approach of the 18th Century, keeps its military budget fairly high. For the last several years its defence budget was increasing in double digit. Even now when the economy is suffering, it is kept high. At the National People’s Congress in May this year, Beijing announced a military budget of $178.6 billion for 2020 and said it would grow by 6.6 per cent year-on-year. The military budget stood at $175 billion in 2018 and $177.5 billion in 2019. The aim is to deter US as it considers that if it has to establish its hegemony in the world, it must have parity with US militarily. It is pushing the Chinese economy further downwards.
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