"China's Military Buildup: Budget Increase and Tough Talk on Taiwan"

China has announced a 7.2% increase in its defense budget for 2024, reaching nearly 1.7 trillion yuan, continuing a trend of annual increases of 7% or more. The actual defense spending is likely higher than reported, with estimates suggesting a 27% increase in 2022. This budget reflects President Xi Jinping's focus on security goals, including control of Taiwan, while also emphasizing economic growth and budget prioritization. The People's Liberation Army is not seeing the double-digit percentage increases of the past, but the government aims to build a modern military by its centennial in 2027.