Military funding/ China

What China's hiked defence spending means for India

The latest hike in China's defence budget allocations to about $142 billion represent double digit increase -- a feature consistently maintained for the last more than two decades to make China the second largest defence spender in the world after the United States.

Assuming the official allocations represent the true picture -- and cooking up the books in China had been rampant with its auditing system still rudimentary in nature -- the $142 billion figure still represents a phenomenal increase and surpasses that of Japan ($42 billion), India ($40 billion), South Korea ($33 billion) and several other Asian countries put together.