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China Spends $700 Billion on Military, US 'Behind the Curve'

Sen. Dan Sullivan, R-Alaska, announced that Chinese military spending has soared to $700 billion during Senate deliberations regarding next year's U.S. defense budget on June 1. (Getty Images)

By John Rossomando | Monday, 12 June 2023 07:56 AM EDT

A recently declassified U.S. Intelligence Community assessment estimates Chinese military spending has soared to $700 billion – nearly three times the amount listed in the 2023 budget publicly disclosed by Beijing.

Sen. Dan Sullivan, R-Alaska, announced the figure on June 1 during Senate deliberations regarding next year's U.S. defense budget.

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