CHINA INCREASES ITS DEFENSE SPENDING BY 6.8% FOR FISCAL 2021

Highlights –

• China increases its defense spending by 6.8% for fiscal 2021.
• The country plans to upgrade the armed forces despite the high government debt and impact of COVID-19.
• China is known for having the second-largest defense budget in the world behind the U.S.
• China has around 3 million troops and is known for its largest standing military.

China ....