3 to 4 % of GDP is affordable to China , Right now China spend 12 to 15 billion per year for foreign aid to Africa and other country What for Not too mention billion more stashed in US treasury bill
The idea that strong economy will be enough is false delusion again read history Song's China was wealthy they try to buy peace with the Barbarian to no avail Prosperity is only possible with peace and the best way to guarantee peace is strong defense. They should emulate Japanese slogan which is actually Chinese BTW except the Chinese forgot it
Fukoku kyōhei originally a phrase from the ancient Chinese historical work on the Warring ... wealth and military power, also known with the expression fuguo qiangbing
Without saying they need to double up on nuclear deterrent
I agree that doubling military spending in China to 4% is affordable. But is it actually necessary?
A large resilient hi-tech economy is ultimately what will support the creation of a strong Chinese military machine.
And that economy also means China's neighbours will have a vested interest in the health of the Chinese economy.
But of course, if the USA does start a full scale cold war, then of course China should double military spending.
But we're not yet at that point.
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Note to watchers from the USA.
China's military spending in 2017 was *equivalent* to 460 Billion USD. That's based on a PPP GDP of 23 Trillion USD x 2%.
If China was to decide to increase military spending to 4% of GDP, I reckon it would at most 5 years to build up to that level.
So by 2023, China would be spending the equivalent of 1200 Billion USD every year. That is based on a PPP GDP of 30 Trillion USD x 4%.