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I have a problem with Submarines being magic weapons in the Navy. I don't think they are. I think surface ships are much more powerful and useful than submarines.
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IMHO, I do think submarines is one where China needs to have more, the other one is space based weapons by disguising them as satellites, rain down the satellites to mainland USA if total war can not be avoided between China and USA, which will cause panic and damages in the cities, fire in the forests/farms, etc. Need to put maybe hundred thousands satellites in the space, disguise the satellites just like SpaceX Starlink satellites.
If war happens with USA, I believe China needs to be able to bring the war to mainland USA and avoid as much as possible to make the battlefield in mainland China. That's why I believe China needs to invest maybe around 100 submarines or maybe at least some factories with capabilities to build/launch them in short time and hide them in the submarine caves around coastal area of China, launch them only when war happens so China can keep the maintenance costs down.
With 100 submarines, China will have around 1200 SLBM that can attack mainland USA. Let the submarines patrol around Pacific and Atlantic Oceans. China can use ports in Peru and Cuba/Africa for replenishing ships disguised as containers ships and replenish the submarine needs in the vast ocean. Surface ships when patrolling can not hide without exposing much in the peace time but submarines can hide and patrol in peace time without exposing much and can have the element of surprise. The way I see it, the price to build a surface ship (type 055 destroyer) and submarine (type 074) is not much different, US$888 million VS US$750 million, and probably more expensive for nuclear submarines.
In the peace time, at least USA will be very mindful to consider that China has many submarines that can attack it, so it will make USA to divide the resources. If we think a mobile land ICBM launcher which is already a hard target to attack but now submarines with missiles in the vast ocean, I think it will become much more harder as they are essentially act like mobile ocean ICBM launchers.