China's defense spending to double by 2015, says think tank

China’s defense spending will double by 2015, when it will make up over half the Asia-Pacific total, The Wall Street Journal reported, citing a report from IHS Jane’s, a security think tank. China’s defense budget officially increased 12.7% to US$91.5 billion last year, but experts say the true figure may be much higher. IHS Jane’s reckons the actual amount to be around US$119.8 billion, and forecasts 18.75% annual growth until 2015. Other Asia-Pacific nations, such as Vietnam and Indonesia, are also predicted to increase military spending by more than investment, while India and Japan are more likely to focus on their ailing economies. “China’s investment will race ahead at an eye watering 18.75%, leaving Japan and India far behind,” said Paul Burton, a senior principal analyst at HIS Jane’s Defence Budgets.