Wednesday, March 4, 2009

China's defence spending to touch $70 billion in 2009
BEIJING (AFP): Notwithstanding the global financial crisis, that's forcing governments to spend hundreds of billions of dollars on fiscal stimulus packages, the communist regime in China has set aside a whopping $70.2 billion to upgrade its military might this year.

China announced today its defence spending would rise by 14.9 per cent in 2009 but insisted that its expanding military might posed no threat to the rest of the world. The rise is slightly smaller than last year's increase of 17.9 per cent.