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China’s Defence Spending To Nearly Double To $233 Billion By 2020, Four Times That Of India
Amphibious tanks of the Chinese People’s Liberation Army move to land a beach. (China Photos/Getty Images)
As the arms race in Asia picks up pace, China is set to nearly double its defence spending over the decade from $123 billion in 2010 to $233 billion in 2020, reported Alanna Petroff for CNN. This data was sourced from a new report by IHS Jane’s. By 2020, China is projected to spend over four times more than the United Kingdom (UK) and its defence budget is set to surpass that of the Western powers.
In comparison, the other Asian power, India, has also upped its defence spending with a renewed drive to acquire and make modern defence equipment. According to the report, India currently spends about $50 billion on defence. In 2010, it was $38 billion, and the projection for 2020 is $64.07 billion. So as per the Jane’s forecast, India’s rise in defence spending over this decade, although nearly 60 per cent higher, falls significantly short of China’s spending.
A $4 billion additional spending has already helped India move past Saudi Arabia and Russia to rank among the top five global spenders for the first time. By 2018, India is projected to surpass the UK and emerge as the third biggest defence spender. The United States, for its part, is expected to continue being the biggest spender past 2020.
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