FIRST AIRED: March 4, 2017

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Transcript

00:00:00
>> China announcing a rise in its defense budget for this year, but only by a mere 7%, making it the slowest rise since 2010.>> China's defense budget will rise about 7% in 2017, our defense spending accounts for about 1.3% of GDP. It's the same level as the past few years, which is an accurate figure provided by the Finance Ministry.
00:00:23
>> The announcement comes days after President Donald Trump proposed an increase in the US military budget. A 7% rise would still only bring the Chinese defense spend to a quarter of the American budget. China will reveal the actual figure, on Sunday, when its Parliament begins its annual session.
00:00:39
Analysts say a stalling economy has meant the government has had to slow down its military ambitions. Last year, the defense budget recorded its lowest increase in six years, at 7.6%, the first single digit rise since 2010. Prior to that, China saw a nearly unbroken two-decade run of double digit budget increases.
00:01:01
The country's military buildup rattles many in the region, as China becomes more assertive over territorial disputes in the East and South China Seas.