Tag Archives: EU States Strike Lucrative Military Contracts With China Overriding Embargo – Report

EU States Strike Lucrative Military Contracts With China Overriding Embargo – Report – 30 April 2014

RT logoEurope 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.

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