China Boosts Defense Budget by 7.2% Amid Rising Global Tensions
Amid escalating tensions over Taiwan and border disputes with India, China has announced a 7.2% increase in its defense budget, reaching a total of 1.67 trillion yuan ($231 billion) for 2024. This move signals Beijing’s intent to bolster its military capabilities amidst regional and international challenges. The surge in defense spending outpaces China’s economic growth…