In a consecutive second year, China’s economic growth remained on the lower side since 1992 when it achieved just 6%. The second largest economy in the world is suffering from the worry of increasing debt.
China has set its economic forecast for the year 2018 at 6.5%. The country has at the same time increased its defence budget, the largest in the last three years.
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The economy of China which is viewed with a lot of expectation has slowed down in the recent years owing to the loss of demand for their goods and at the same time.
overcapacity in its manufacturing and steel sectors.
Many experts say that China is now more focusing on Quality than quantity.
China’s defense budget—the world’s second-largest defence outlay behind the US though by a large margin —meanwhile is expected to grow by 8.1% this year to 1.11 trillion yuan or $175 billion, up from 7% in 2017. Thus making it three times bigger than that of India’s.
China’s defence budget, however, some says that is more than it is always projected.
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