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Introduction In March, at the opening session of the 14th National People’s Congress (NPC), the top legislature of the People’s Republic of China (PRC) announced an annual defense budget of roughly 1.55 trillion yuan (about $224.79 billion) for fiscal year 2023, which is a 7.2 percent increase from last year (State Council Information Office [SCIO], March 6). This year’s increase …

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