America spends five times as much on defence as China does, and even though China’s defence budget is expanding faster, on recent growth rates America will remain top gun until 2025.
While America still tops a few league tables, the year when the Chinese economy will truly eclipse America’s is in sight. It would be a mistake for American leaders to try to block China’s rise—it is better to be number two in a fast-growing world than top dog in a stagnant one. (via theeconomist)
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