China Gives Military Budget Another Double Digit Raise

The increase comes despite a slowing Chinese economy. State-run Xinhua news agency notes that it is a smaller increase than previous years. In 2014 the budget had increased by over 12% over 2013, and this year's would be the smallest increase in five years. The total military budget will rise to 886.9 billion yuan ($141.45 billion) which will still be a distant second to the US' more than $600 billion in military spending in 2013.

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