Military Budget
Military spending in China has grown about 10 percent annually over the last 15 years. The Chinese government's published 2011 military budget is about US$ 100 billion, the second largest in the world and up about 12.7% percent from 2010 (US$ 87 billion), but still only 1/7 of the U.S.'s. This figure would mean that for 2011, China's military expenditure as a percentage of GDP would be 1.4%. However, the PLA is widely believed to underreport its yearly expenditures. The Stockholm International Peace Research Institute (SIPRI) estimates China's military spending to be US$ 129.272 billion, up 679% from 1989, the earliest year SIPRI has an estimate for PLA spending, when China spent US$ 16.6 billion on its military.
Then-United States Secretary of Defense Robert Gates urged China to be more transparent about its military capabilities and intentions and Chinese state media has agreed that there is a need to "communicate more often and more effectively" about the issue.
The International Institute for Strategic Studies in a 2011 report argued that if spending trends continue China will achieve military equality with the United States in 15–20 years.
Read more about this topic: People's Liberation Army
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