China Boosts Defense Budget by 12%, Adding a Quarter of Japan’s in a Single Year

China Boosts Defense Budget by 12%, Adding a Quarter of Japan’s in a Single Year

* As China’s “parliament” convenes for the 2nd session of the 12th NPC, the country is announcing another year of double-digit defense spending growth, with a budget up 12.2% to 802.2B yuan (about $131B). This growth rate is notable not just for its...