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#Beijing, based on the report, budgeted over $296 billion for its military in 2023, a 6% increase from its spending the year prior. The figure represents 12% of the world’s military expenditures and over 50% of the #Asia and #Oceania region.The figures are estimates of #SIPRI, as #China’s publicly declared military budget is much lower. #TootSEA #Philippines

Study: China's military expenses driving up other Asian countries' spending, too
https://www.rappler.com/philippines/study-china-military-expenses-driving-up-asian-countries-spending/