Asia’s defense spending outpaces growth. Photo: IISS
In March 2023, Beijing announced a defense budget of 1.55 trillion yuan (about 219.5 billion USD), a nominal increase over the previous year of 7.2%, marking the 29th consecutive year. China increases defense spending. With China’s defense spending always higher than many other countries, Military Balance 2024 China estimates that China will account for 43% of the continent’s defense spending by 2023.
Not to be outdone, Japan also launched an ambitious plan. In November 2022, Tokyo revealed it would increase defense and security spending to 2% of GDP by 2027, double regular military spending. A month later, Japan issued a national security strategy saying the country was facing “the most serious and complex security environment” since 1945. This is the main driver in the plan to increase Tokyo’s military spending. This leads to a sharp increase in Japan’s 2023 defense budget, focusing on strengthening air defense, missile defense and long-range counterattack capabilities.
South Korea also increased its defense budget with a medium-term spending plan for the period 2024-2028 announced by the Ministry of National Defense in December 2023. Accordingly, the Korean Ministry of National Defense proposed a total budget for the period of 348.7 trillion won (266.07 billion USD), of which 113.9 trillion won (86.91 billion USD) spent on upgrading high defense capacity and 234.8 trillion won ($179.16 billion) allocated to maintain personnel, equipment and facilities. The medium-term plan also proposes purchasing more reconnaissance satellites, submarines, modern missile interception systems and developing electromagnetic weapons.
However, not every country in Asia follows the trend of increasing defense spending. In 2023, India will only increase defense spending by 1.5% compared to the previous year’s budget. With India’s inflation rate above 5%, a 1.5% increase is effectively a reduction in spending in real terms. In addition, most of the nominal increase in the Indian defense budget is for increasing military pensions.
* China calls on all parties to exercise restraint after the US attacked targets in Syria and Iraq
A location that was attacked by the US. Photo: Reuters
According to Xinhua News Agency, on February 5, China called on relevant parties to exercise restraint after the US military conducted air strikes on targets in Syria and Iraq on February 3.
Chinese Foreign Ministry spokesman Wang Wenbin made this call when responding to reporters about the issue at a regular press conference of the Chinese Ministry of Foreign Affairs. Mr. Wang noted that the current situation in the Middle East is very complex and sensitive and China calls on relevant parties to thoroughly comply with international law, stay calm, exercise restraint and avoid escalating tensions in the region. Don’t let stress get out of control.
Previously, on February 4, China’s Global Times newspaper also warned of the risk of the conflict breaking out into a “world war” if the parties do not restrain and control their military activities in the region. Europe in the context of the ongoing Russia-Ukraine conflict.
HUU DUONG (synthetic)
