China is certainly behind in numbers but not in quality. China still operates on a 1.5% GDP baby military budget while US and allies are talking about getting to 5%.
Sooner or later China will have to massively boost budget or they will lose in terms of numbers even more.
BTW, if you go by official numbers then its 1.1% of GDP.
Just to expand on the 5% NATO target, which incidentally was accompanied by the NATO chief calling Trump "Daddy"
It's a 2035 target of 3.5% in direct military spending and 1.5% in military-related spending.
Direct military spending in the US is already at the 3.5% level, so it is the "allies" who have to increase their spending.
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I haven't seen any good estimates for the latest in Chinese military spending, but I'd be very surprised if it was still at 1.5% of GDP, given what we've seen in the past 2 years.
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Will Chinese be outproduced?
1. In the Air Force, we're now talking about China producing 150-200 stealth fighters per year. In contrast, Lockheed Martin is still planning on 150 per year for all customers.
2. In the Navy, annual Chinese warship construction looks about twice the US construction rate. This is visually confirmed for every category of warship, pending aircraft carriers. But there are indications that China has started construction of 2 carriers, which implies 2 carriers every 5 years, which is double the US
3. The USAF reports that China has a 20x cost advantage in hypersonic weapons in the Western Pacific.
So even with US allies increasing military spending to 3.5% of GDP, I just don't see the Chinese Air Force, Navy or Rocket Force being outproduced.
In fact, it looks like the military balance will continue to shift drastically towards China by 2035.