This is an update of the “bigger picture” within which we can place the deluge of important events coming at us fast and furious from around the world. We must look at the domestic strength of each great power (USA, China, Russia) which is the underpinning of their global position, together with the allies and vassals which make their coalition.
'Chinese military spending at US$292 billion in 2022 compared to US$877 billion for the US. This is at market exchange rates though, at purchasing power parity rates (PPP) Chinese expenditure would more in the region of US$529 billion.'
I would argue that the PPP ratio – for defense items specifically – is 3:1 or better. The two countries defense output, in both volume and value for money, is not even comparable at present.
'Chinese military spending at US$292 billion in 2022 compared to US$877 billion for the US. This is at market exchange rates though, at purchasing power parity rates (PPP) Chinese expenditure would more in the region of US$529 billion.'
I would argue that the PPP ratio – for defense items specifically – is 3:1 or better. The two countries defense output, in both volume and value for money, is not even comparable at present.