EU states strike lucrative military contracts with China overriding embargo – report

Standard

Europe is powering the military rise of China, approving multi-million dollar deals for the transfer of weapons and dual-use technology – despite an arms embargo stemming from the 1989 Tiananmen Square crackdown, AFP reveals.China is the world’s second largest military spender and the fastest growing military market, with Beijing setting aside $132 billion in defense spending. While they are yet to touch the US’ massive $495.6 billion defense budget, China recently announced they would increase military spending by 12.2 percent for 2014.“It will take China a long, long time before its budgets will effectively alter the military balance with the US,” Jonathan Holslag of the Brussels Institute of Contemporary China Studies, recently told Stars and Stripes.“But that’s not the main concern. While the US still has some scope to respond, neighbors are getting much more nervous… Japan, Vietnam and the Philippines all know that they could be the first victim if the balance of power shifts at America’s detriment.”

For full report read …… http://rt.com/news/155868-europe-exports-china-military/

Advertisements

One thought on “EU states strike lucrative military contracts with China overriding embargo – report

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s