DudleySmith
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- Dec 21, 2020
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China’s Defense Budget: Spending What’s Necessary to Beat the Americans
Commentary It’s that time of year when China announces its defense budget. In 2022, defense spending is set ...
www.theepochtimes.com
Defense is the top priority for the CCP—and there are no Chinese Bernie Sanders or Green New Dealer types who will complain about the defense budget. And once the PLA can outmatch the U.S. military, every other nation will fall into line. That’s worth almost any price.
There’s a limit to defense spending, however. Anything that’s needed from overseas—such as iron ore to build steel, technology, “dual-use” equipment and technology, and landing and stevedoring fees for PLA aircraft and ships stopping off at overseas ports and airfields—all must be paid for in a currency that’s convertible (that a foreigner will accept), which the yuan isn’t.
To sum up, while the CCP can print up whatever cash it needs for domestic military expenditures, it needs to obtain convertible currency to pay for overseas expenses.
So there are effectively two different defense accounts—one that’s domestic and more or less unlimited and one that’s overseas and dependent on available foreign exchange.
....
“Instead of building the force that can take on and defeat a peer adversary like the PLA, DoD leaders are rudderless when it comes to restructuring the Pentagon and getting more bang for the buck. Instead, the current crop of political appointees and careerists spend more time and energy on non-warfighting domestic political rhetoric. As I noted last year, America needs supersonic and long-range ASCMs [anti-ship cruise missiles] that will sink the PLA Navy invasion Fleet. Where are they? The Pacific Fleet has been pleading for them in large numbers for almost two decades.”
Meanwhile, China keeps spending whatever it takes to defeat the United States. And it won’t run out of yuan. Wall Street and industry appear to be willing to make sure it has the U.S. dollars it needs to round things out.
Now, that’s a defense budget with Chinese characteristics.
Indeed. Keep pandering to multi-national pirates and crime syndicates posing as 'free market' corporations, and lose your country.