China's defense budget growth rate fell to 7.5% in 2019

[Adam WANG SHANGHAI MEGA]

China's defense budget growth rate fell to 7.5%
in 2019
Global Times 2019-03-05 09:22:16

https://www.toutiao.com/a6664710934650421764/

According to the Xinhua News Agency in English, according to the draft budget submitted at the annual meeting of the National People's Congress to be held on Tuesday, China will reduce the defense budget growth rate from 8.1% last year to 7.5% in 2019.

According to the report data, the defense budget for 2019 will be 1.19 trillion yuan (about 177.61 billion US dollars).

This indicates that since 2016, China’s defense budget growth rate has dropped to single digits for four consecutive years. It has maintained double-digit growth for five consecutive years.

The data shows that in 2016, China's defense budget expenditure growth rate was 7.6%, 7% in 2017 and 8.1% in 2018.

Zhang Yesui, spokesman of the 13th National People's Congress Annual Conference, said that the growth of China's defense budget is reasonable and appropriate, and aims to "meet the need of the state to safeguard national defense and military reform with Chinese characteristics."


中国国防预算增长率降至7.5％
原创 环球时报 2019-03-05 09:22:16

据新华社英文版消息，根据将于周二召开的全国人民代表大会年度会议上提交的预算草案，中国将在2019年将国防预算增长率从去年的8.1%下调至7.5%。

报告数据显示，2019年国防预算将为1.19万亿元人民币(约合1776.1亿美元)。

这标志着自2016年以来，我国国防预算增长率已经连续四年降至个位数。此前连续五年保持两位数增速。

数据显示，2016年，中国国防预算支出增长率为7.6%，2017年为7%，2018年为8.1%。

13届全国人大年度会议发言人张业绥表示，中国国防预算的增长是合理和适当的，旨在“满足国家维护国防安全和中国特色军事改革的需要”。

 

[samsara]

And from Andrew Erickson, professor of strategy at the US Naval War College’s China Maritime Studies Institute:

He just tweeted on March 05,

"Just out! China’s Official 2019 Defense Spending to Rise 7.5% to 1.19 Trillion Yuan (~177.61 Billion USDollars).

Here's what it means & why it matters.
(just the same link as below)

That’s a big increase off a big baseline that was already world's 2nd largest.
http://www.andrewerickson.com/2019/...nother-big-defense-spending-increase-in-2019/

https://twitter.com/x/status/1102730343445131264

And the professor conveniently missed out the quantitative number of the US military budget (in his article!)

Here's an interesting quote from a poster there:

"OK. China FY 2019: abt 177.61 billion USD; can't locate US number in the article so I dig elsewhere.

FY 2019 US military budget: Trump signed a $1.3 trillion spending bill on 2018-03-23 that incl a $160 billion boost in defense spending over two years.

178 vs 1,380 billion USD!"
~~~~~~

Talking about the selective amnesia, or omission... or more likely about the intellectual honesty, if any still remains... even a prof may look like dumbed down due to his association, "talking to one's own book"…

 

[Elvin]

Yes, but a dollar goes a lot further in China than it does in the U.S. So in theory $177Bln gets the Chinese more than the same amount in the U.S.

Sadly, in the U.S the military industrial complex is in it for profit, so even though the U.S has a massive budget , it is not used efficiently. For example, the F-22 project cost over $100Bln, that is insane and not justifiable, in retrospect this is how money in the US is spent.

 

[Adam WANG SHANGHAI MEGA]

Yes, but a dollar goes a lot further in China than it does in the U.S. So in theory $177Bln gets the Chinese more than the same amount in the U.S.

Sadly, in the U.S the military industrial complex is in it for profit, so even though the U.S has a massive budget , it is not used efficiently. For example, the F-22 project cost over $100Bln, that is insane and not justifiable, in retrospect this is how money in the US is spent.

Of course, China’s $200 billion military budget is higher than the US$700 billion. Hahaha, your math teacher is definitely angry with you.

 

[ZeEa5KPul]

Of course, China’s $200 billion military budget is higher than the US$700 billion. Hahaha, your math teacher is definitely angry with you.

Even equalizing for the effect he described China's defense spending is roughly the equivalent of $350 billion - half the US figure.

 

[Adam WANG SHANGHAI MEGA]

Even equalizing for the effect he described China's defense spending is roughly the equivalent of $350 billion - half the US figure.

No China's defense spending should be 1 trillion USD！

 

[lcloo]

Military hardware in the West are sold at no less than 100% profit margin, whereas in China the manufacturers normally earned around 10% because the government owns these manufacturers.

Thus a gun that is sold $110 to PLA could be sold at $200 or more in the West, added in purchasing power parity on that, the differences would be even wider.

 

[Brainsucker]

I think somebody forget that Chinese Government pay their soldiers, and bought their weapons (from their domestic industries) with RMB, not USD. And their budget is actually 1.19 trillion RMB (177 Billion USD). While US government pay everything with USD.

So, we should see the exchange rate, and also aware of the Purchasing power Parity of this matter. Because both currency have different value, and the cost that both government must pay the wages and to buy their weapons are also different.

 

[Adam WANG SHANGHAI MEGA]

I think somebody forget that Chinese Government pay their soldiers, and bought their weapons (from their domestic industries) with RMB, not USD. And their budget is actually 1.19 trillion RMB (177 Billion USD). While US government pay everything with USD.

So, we should see the exchange rate, and also aware of the Purchasing power Parity of this matter. Because both currency have different value, and the cost that both government must pay the wages and to buy their weapons are also different.

So when americains want to make China look bad,they would change RMB to USD to show the world how backward China is in terms of GDP per capita in USD.!

Sure,sure,CHINA has actually 1 trillion USD as military budget while its total gov financial budget is around 2.3 trillion per year ,haha,China looks even more stupid than Military Soviet Union!

 

[lcloo]

Also, the huge costs of maintaining overseas military bases all over the world, and the endless military exercises all year round. And the costs of supporting foreign countries like Iraq and Afghanistan, and rebel fighters in Syria. And the cost of deploying aircraft carriers and its escorts enforcing sanctions against Iran oil export, and navy patrol off Syria, and to a lesser extend the Black Sea and Baltic Sea.

All these expenses add a large chunk of money the US military spends each year.

 

[Adam WANG SHANGHAI MEGA]

USA 700 billions USD is not a threat while China 170 billions is,hahahahahahah!

 

[empirefighter]

No one cares what the foreigners think, we will definitely keep increasing our defense budget and surpass the USA one day.
PS. I am very happy and enjoyable to see these foreigners with unhappy and innocuous face

 

[Adam WANG SHANGHAI MEGA]

No one cares what the foreigners think, we will definitely keep increasing our defense budget and surpass the USA one day.
PS. I am very happy and enjoyable to see these foreigners with unhappy and innocuous face

The more scared and unhappy foreigners are, the more accurate the development path of China is.

 

[Adam WANG SHANGHAI MEGA]

China is not the Soviet Union. China is committed to finding a balance between military budgets and people's lives standard and economic development.

 

[samsara]

China is not the Soviet Union. China is committed to finding a balance between military budgets and people's lives standard and economic development.

Of course the Chinese leaders are not the stupid Bolshevik Soviet leaders that could not or forgot to develop its economy, at least produced enough to supply the needs of the Bolshevik Soviet Empire and its Eastern Allies (the Warsaw members). The Soviet only could engage in military race with the USA but economy-wise lagged behind very much, and eventually went bankrupt!

China is completely in different conditions, while it develops its military rationally it never forget to focus on its economy and technology development. Basically there is nothing similar between the two entities. Even the so-called Communism in China is more to a “Socialism with Chinese Characteristics”, with one dominant ruling party.

Many already added in the valuable inputs into this thread. I just wanna add that all the IMPORTED material inputs (iron ore etc) into the military industry more or less carry the same unit prices for China and USA, thus the 1.19 trillion yuan is still much smaller than the 700 billion US dollar, from whatsoever perspective. There is simply no justified reason for the USA or others to complain the Chinese military budget!

What's good for the goose is good for the gander.