Written by Liz Lee
BEIJING (Reuters) – China defends the veracity of its economic numbers and says its military spending is “transparent and reasonable,” while calling comments made this week by the commander of the U.S. Indo-Pacific Command “typical.” It was dismissed as a “double standard.”
China announced in March that it would increase defense spending by 7.2% this year, allocating 1.55 trillion yuan ($214 billion), slightly higher than last year's growth and slower than the government's forecast for slower economic growth. The pace is also fast.
US Navy Adm. John Aquilino said in remarks on Tuesday that China's economy has been hit by turmoil in its real estate sector and official growth rates are “unrealistic.”
He pointed to increased defense spending as a cause for concern, given that the economy is “sluggish.”
In response to a request for comment on Aquilino's remarks, the Ministry of Foreign Affairs told Reuters: “China's release of economic indicators is always open and transparent, and is highly valued by society.”
He added that prestigious international financial institutions such as the Asian Development Bank, Goldman Sachs, and Morgan Stanley expressed confidence by raising their growth expectations for this year following China's first quarter economic data.
“China's defense spending is open, transparent and reasonable,” China said in a statement Wednesday.
It added that China actively participates in the UN military expenditure transparency system and submits timely reports on military expenditures.
The ministry said increased defense spending is necessary not only to address security challenges and protect China's legitimate interests, but also to better fulfill the international responsibilities and obligations of great powers.
The magazine compared China's spending to the ranking of the United States, the world's top military spender, and accused the United States of having double standards when it comes to military spending.
($1=7.2467 Chinese Yuan)
(Reporting by Liz Lee; Editing by Clarence Fernandez)