I like the recent direction the discussion has taken, from bean-counting ROROs in a Taiwan landing (as if the ROC remnants are anything more than a pebble) to grand strategy over the Pacific.
I think it would be helpful to make some projections about China's trajectory over the coming quarter century. At least in my case, it helps me orient my thoughts about what capabilities China will be able to field at that time. I'll construct a table where the rows are percentages of GDP spent on defense and the columns are average growth rates over the period, again with three projections. I'll take the IMF's estimate of China's PPP adjusted GDP of $30 trillion in 2022 as the starting point.
Economic growth rate/
Defense expenditure | 3.5% ($70 trillion) | 4.5% ($90 trillion) | 5.5% ($115 trillion) |
1.4% of GDP | $980 billion | $1.26 trillion | $1.61 trillion |
2.5% of GDP | $1.75 trillion | $2.25 trillion | $2.875 trillion |
3.5% of GDP | $2.45 trillion | $3.15 trillion | $4.025 trillion |
In the absolute worst case scenario, China's defense expenditure is still around a trillion dollars. In a baseline scenario, it's well over one trillion, perhaps approaching or even crossing two trillion. I think a dozen CSGs by ~2045 is an absolute rock bottom estimate unless China actively demilitarizes (i.e., drops defense expenditure below even its current anemic rate), for which I see no reason.
The number 20-25 was bandied about earlier, and I think that's feasible given both decent economic performance and the political will to raise the defense budget once China's immediate developmental goals are met. It's not a sure thing of course, but I'd take the bet that China's economy will grow between 4.0-4.5% per annum on average over the next 25 years and the deteriorating security environment will compel the government to raise expenditures well north of 2%.
The remaining question is whether Chinese shipbuilding is capable of cranking out that many carriers (20+ in 25 years). Given China's overall share of global shipbuilding, as well as how little of that capacity is used for naval shipbuilding, I think the answer is clear.