China engaging in military buildup while US cuts forces

An expert on Communist China says the United States could be making a grave mistake by cutting back on defense spending while China is doing just the opposite. Beijing recently announced a new defense budget of approximately $106 billion, which equates to an 11.2-percent increase. Cheng says this increase coupled with last years 12.7 percent increase means that China is now spending more on its military than all other Asian nations combined.

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