In a recent announcement, China revealed a 7.2% surge in its defense budget, already standing as the globe’s second-highest, trailing only the United States at 1.6 trillion yuan ($222 billion). This increase closely mirrors the upswing observed in the previous year.

The escalating tensions involving the U.S., Taiwan, Japan, and neighboring nations, all staking claims in the strategically vital South China Sea, are believed to be propelling advancements in cutting-edge military technologies. These range from stealth fighters and aircraft carriers to an expanding arsenal of nuclear weapons.

However, the officially disclosed budget figure during Tuesday’s inauguration of the rubber-stamp legislature’s annual meeting is perceived by many foreign experts as only a fraction of the actual spending by the People’s Liberation Army. This military arm, aligned with the ruling Communist Party, factors in expenditures for research and development, as well as the acquisition of foreign weaponry.