China Continues it's Massive Military Buildup

Not only does China own the United States, but they are becoming a greater military threat by the day. We will wake up one day and find ourselves blackmailed by a totalitarian-Communist state. And Don't count the traitors in Washington to defend us. They are too busy kow towing to China.

China says it is increasing defense spending, this year, to raise the salaries of the world's largest standing army. The announcement Wednesday, came at a news conference to preview the annual legislative session, which begins Thursday.

Li Zhaoxing is the spokesman for China's parliament, the National People's Congress, not the spokesman for the Ministry of Defense.

But, in what has become a tradition in recent years, the NPC spokesman announced China's proposed military budget.

Li says the defense budget is included in the draft national budget that is submitted to the legislature for examination and approval.

Li says China's military spending in 2009 will increase nearly 15 percent, to $70 billion.

The spokesman describes the increase as "modest" and said the double-digit growth will not pose a threat to any other country. He says much of the extra money will go to salaries for China's more than two-million troops and be spent on raising capabilities in what he described as "non-warfare military operations."

Li also said the additional spending is needed to maintain China's sovereignty and territorial integrity.

China has maintained its threat to use military force against Taiwan, if Taipei declares formal independence. Beijing considers the separately-governed island a renegade province.

Did I mention their economy is doing better than ours.

China’s stocks rose, driving the benchmark index to its biggest gain in four months, on speculation the government will announce new stimulus measures to revive the world’s third-largest economy.

[...]The benchmark Shanghai Composite Index jumped 6.1 percent to 2,198.11 at the 3 p.m. local-time close. That’s the biggest gain since Nov. 10, when it climbed 7.2 percent after the government announced its 4 trillion yuan ($585 billion) spending plan. Only one stock dropped on the 896-member measure today.

[...]The Shanghai Composite has rallied 21 percent this year, the world’s best performer, on expectations the government’s spending plan will support earnings after an exports collapse dragged the economy to its weakest growth in seven years.