Thomson Reuters
- China has pursued numerous commercial and infrastructure deals around the world in recent years.
- Critics see this as a Chinese effort to extent its influence abroad.
- These financial maneuvers are a source of concern for many — including the head of the US Navy.
China’s move to boost defense spending has sparked dismay among US officials in recent days, but it is Beijing’s efforts to gain influence that are more worrisome, the secretary of the US Navy said on Wednesday.
China’s finance ministry said this weekend that the country’s defense budget will rise 6% to 1.1 trillion yuan or $ 173 billion. It is the biggest increase in three years and makes China’s defense budget the world’s second-largest — behind only the US.See the rest of the story at Business Insider
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