China increases its military budget by $230BN amid fears it will launch an invasion of Taiwan 

China has announced it will increase its military budget by nearly $230 billion this year amid concerns it will launch an invasion of Taiwan.

The money is intended to “boost combat readiness and improve military capabilities,” Premier Li Keqiang said before a draft budget submitted to the National People’s Congress in Beijing.

It means China’s military spending will grow at its fastest pace in four years and take up a larger share of its economy, marking a reversal of a two-decade trend in which the nation has prioritized growth over its military capabilities.

Defense spending will increase by 7.

2% in 2023, which is equivalent to $224 billion, well above the 5.7% increase in general government spending.

The move will undoubtedly scare the US government, which is concerned about Beijing’s strategic intentions in the wake of rising tensions with Taiwan.

China announced that it will increase its military budget by nearly $230 billion this year, or 7.2 percent of its spending.

It marks the reversal of a two-decade trend in which China has prioritized economic growth over military spending.

In his work report for the annual session of parliament, Li said: “Our armed forces, with a focus on the goals for the 100th anniversary of the People’s Liberation Army in 2027, should work to carry out military operations, boost preparation for combat and improve the armed forces”. capabilities.’

Beijing is nervous about challenges on fronts including Taiwan, the autonomous island democracy that China claims as its territory to be controlled by force if necessary.

US House Speaker Nancy Pelosi added to China’s anger last August with a visit to Taipei.

In retaliation, China organized war games near Taiwan.

since then there has been a steady stream of arms sales to the island from the US, including ground systems, air defense missiles, and F-16 fighters.

Taiwan itself recently extended conscription from four months to one year and has been revitalizing its own defense industries, including building submarines for the first time.

In his remarks on Taiwan, Li said the government had followed the party’s “general policy for the new era to resolve the Taiwan issue and resolutely fought against separatism and countered interference.”

Along with Taiwan, tensions have risen with the US over China’s militarization of islands in the South China Sea, which it claims almost entirely, and more recently, the downing of an alleged Chinese spy balloon over US East Coast

Attendees at the National People’s Congress were all flanked in face masks.

(L-R) Li Zhanshu of the National People’s Congress, Chinese President Xi Jinping and Chinese Premier Li Keqiang

Chinese President Xi Jinping and Premier Li Keqiang arrive for the opening session of the conference on March 4.

The enormous capacity of China’s defense industry and Russia’s massive spending on artillery shells and other materiel in its war against Ukraine have raised concerns in the US and elsewhere that Beijing could provide military assistance to Moscow. .

The 2 million-member People’s Liberation Army is the military wing of the ruling Communist Party, commanded by a party commission headed by President and party leader Xi Jinping.

On Sunday, Premier Li Keqiang said that over the past year, “we have remained committed to the absolute leadership of the Party over the people’s armed forces.

“

“The people’s armed forces intensified their efforts to increase their political loyalty, strengthen themselves through reform, scientific and technological advances and personnel training, and practice law-based rule,” he said.

Li went on to praise a series of “important achievements” in national defense and military development that have made the PLA a “more modern and capable fighting force.”

China spent 1.7% of GDP on its military in 2021, according to the World Bank, while the US, with its huge liabilities abroad, spent a relatively high 3.

5%.

But China’s defense spending has remained relatively high despite skyrocketing levels of public debt.

It also comes as the nation’s economy grew at its slowest level in at least four decades last year.

Li set a growth target of about 5% in your directionwhile announcing plans for a revival of the economy fueled by consumers still struggling to shake off the effects of ‘COVID zero’.

While the government says most of the spending increases will go toward improving the welfare of troops, the PLA has vastly expanded its presence abroad in recent years.

China has already established a foreign military base in the Horn of Africa nation Djibouti and is revamping Cambodia’s Ream Naval Base that could give it at least a semi-permanent presence in the Gulf of Thailand off the disputed South China Sea.