China boosts military spending by billions as US warns of potential Taiwan invasion
The Chinese government will increase its military spending by 7.2% this year, which will increase the total budget to 1.56 trillion yuan.
In US dollars, China’s budget now sits at $230 billion, about $16 billion more than its budget for 2022. China’s finance ministry announced the fresh infusion of cash in its annual report on Sunday. The increase in spending comes as the US warns of a possible Chinese invasion of Taiwan in the near future. US officials have also warned China against sending lethal aid to support Russia’s invasion of Ukraine.
Despite the increase, US military spending still dwarfs that of China. The US military is engaged in efforts around the world, including the supply of weapons for the defense of Ukraine.
Still, the increase in China’s budget comes after a year of unprecedented tensions between China and the US and Taiwan. CIA Director William Burns said last month that Chinese President Xi Jinping has ordered his military to be ready to invade Taiwan by 2027.
Chinese military aircraft enter Taiwan’s airspace
The Chinese Communist Party is increasing its 2023 military budget by 7.2% to roughly $230 billion. (Li Gang/Xinhua via AP)
China’s annual military budget now stands at 1.56 trillion yuan, or $230 billion. (Future Publishing via cfoto/Getty Images)
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“We know as a matter of intelligence [Xi] Burns said on 3 February, “Instructed the People’s Liberation Army to be ready to launch a successful offensive by 2027.” A reminder of the seriousness of his focus and his ambition.”
“So, I think it’s in our best interest as a policy matter in the United States of America to make clear our commitment to the status quo, to make clear that we are committed to changing that status quo as a country.” Not interested, which we strongly oppose.” to anyone seeking to change it unilaterally, especially by the use of force,” the The CIA director also said.
Tensions escalated in Taiwan in August 2022 after then-Speaker Nancy Pelosi visited the self-governing island. China expressed displeasure over the move despite repeated visits by US lawmakers to the island.
The Chinese military conducted live-fire exercises around Taiwan for weeks following Pelosi’s visit, an apparent simulation of an invasion.
US officials have warned that Xi Jinping may order an invasion of Taiwan as early as 2027. (AP Photo/Johnson Lai)
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Taiwan broke away from mainland China in 1949 when democratic forces fled to the island after losing a civil war to the Chinese Communist Party. Mainland China has since claimed sovereignty over the island, despite functioning as an autonomous democracy.
