China's Military Budget Is Booming

Beijing will increase funding for the military in 2015 by about 10%, The New York Times reports citing Fu Ying, the spokeswoman for China's National People's Congress.

This uptick in funding means that the military's budget will likely grow faster than the Chinese economy this year.

Generally, China's defense budget increases outpace GDP growth. But this latest increase is likely to be unprecedentedly large .... http://finance.yahoo.com