Defense budgets are growing according to a Swedish SIPRI report. The Chinese Arms Industry ranks second behind the U.S.
China is estimated as having the world's second-largest arms-manufacturing industry for the past five years, ranking behind the U.S. in sales but bigger than Russia and the top European nations, according to a report released Sunday by a Swedish think tank, but data from Chinas communist government is often not accurate.
The admission of China to the WTO was a boost to Chinas economy. China, which is a great economic power, is considered a Developing Nation within the World Trade Organization. They therefore get tremendous perks and advantages, especially over the U.S.
In the SIPRI annual study of arms sales, the Stockholm International Peace Research Institute (SIPR) released figures for individual Chinese defense firms.
The study found that sales of arms and military services by the global sector's 25 largest companies for which data are available totaled $361 billion last year, an 8.5% increase over 2018. SIPRI is an independent arms-trade analyst. Arms sales by China's four biggest Security and aerospace companies rose by 4.8% in 2019 compared with 2018 to $56.7 billion, Including missile defense system and programs for the Chinese People’s Liberation Army," SIPRI Senior Researcher Nan Tian said in a statement accompanying the report. China exports to countries to which Western countries have agreed not to sell, said Mr. Erickson.
China is considered more of a potential threat militarily than in the past by many western countries.
China is considered more of a potential threat militarily than in the past by many western countries. A report on reforming NATO said last week the Atlantic alliance must think harder about how to handle China and its military rise. U.S. arms sales to Taiwan in 2020 total $5 billion amid China tensions.
However, SIPRI's data on Chinese firms excludes inaccessible sales figures from major companies in missile manufacturing and shipbuilding.
"Those with access to additional data likely see even greater People's Republic of China, arms-sales activity," said Andrew Erickson, a professor at the China Maritime Studies Institute at the U.S. Naval War College. "After all, China already enjoys the world's second-largest defense spending by any measure and is pursuing rapid military development and expansion of influence."
"We are gradually moving into a new arms-race period," Mr. Kashin, a Russian, warned.
China sells aerial drones as does US, Lockheed Martin. EDGE Group, a United Arab Emirates company formed last year in a merger of more than 25 smaller companies, became the first Middle Eastern firm to make the list, entering at number 22.
Major deals in fiscal 2020 included Japan's purchase of 63 F-35 fighter jets from Lockheed Martin
In addition to Arms, China has ramped up their Technology power. Hacking attacks and vulnerabilities by China based Apps are able to access data from a wide segment of the US population, leaving many open to blackmail. The USA now requires Chinese companies based out of the USA to become US owned so that they are subject to US privacy rules. TikTok may sell its algorithm, to prevent an impact of the tool leak that focuses on known software vulnerabilities.
"Exploitation tools in the wrong hands will lead to more victimization of people who don't see it coming, and there's already enough problems like that," said Paul Ferguson, threat intelligence principal at security company Gigamon. "We don’t really need more exploitation tools floating around ."
Ted Cruz participated in a SenateCommerce subcommittee hearing chaired by Sen Dan Sullivan to assess the Chinese Communist Party’s encroachment in the Arctic & how we can best equip our
USCG to combat such threats because the Artic has strategic military holds and has a Shore of the USA.
The daily Caller tweeted this: Tucker Carlson segment on a video deleted from Chinese social media of a professor saying that China "has people at the top of America's core inner circle of power & influence."
Source: STOCKHOLM, Dec 7 (Reuters & BY Dow Jones)