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China Boosts Defense Spending, Rattling its Neighbors' Nerves

China on Monday unveiled its largest defense spending increase in three years, setting an 8.1 percent growth target this year, fueling an ambitious military modernization program and making its neighbors nervous. The 2018 defense budget will be 1.11 trillion yuan ($175 billion), according to a report issued at the opening of China's annual meeting of parliament. The defense spending figure is closely watched worldwide for clues to China's strategic intentions as it develops new...

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