China’s military spending balloons amid mounting debt

Published

11 months ago

June 28, 2023

As China talks tough on the world stage when it comes to Taiwan, all that military spending comes at a cost. And it’s now impacting Beijing’s bottom line

Despite the government’s modest economic growth forecast, China will increase defence spending by 7.2% this year as Premier Li Keqiang called for an increase in combat readiness.

The national budget released earlier this year showed 1.55 trillion yuan ($224 billion) allocated to military spending.

As tensions over Taiwan have risen in recent years, China’s neighbours and the United States will closely monitor the defence budget.

Defence spending has risen by a single digit for the eighth consecutive year. There was no breakdown of spending like in previous years, only the overall amount and the rate of growth.

As the world’s second-largest economy faces domestic headwinds, the spending increase exceeds targeted economic growth of around 5 per cent.

In addition to Chinese-claimed Taiwan, U.S. naval and air missions near Chinese-occupied islands in the disputed South China Sea cause Beijing concern.

Helicopter carrying Iran’s President Raisi crashes

Published

1 day ago

May 20, 2024

Ahron Young

A helicopter carrying Iranian President Ebrahim Raisi and his foreign minister crashed on Sunday as it was crossing mountain terrain in heavy fog.

The official said the lives of Raisi and Foreign Minister Hossein Amirabdollahian were “at risk following the helicopter crash”, which happened on the way back from a visit to the border with Azerbaijan in Iran’s northwest.

“We are still hopeful but information coming from the crash site is very concerning,” the official told Reuters, speaking on condition of anonymity.

A helicopter carrying President Ebrahim Raisi takes off, May 19, 2024. Ali Hamed Haghdoust/IRNA/WANA via REUTERS

State TV quoted an official as saying at least one passenger and one crew member had been in contact with rescuers. It also said the helicopter had been found, though Iran’s Red Crescent denied this report.

Iranian Supreme Leader Ayatollah Ali Khamenei, who holds ultimate power with a final say on foreign policy and Iran’s nuclear programme, sought to reassure Iranians, saying there would be no disruption to state affairs. #iran #trending

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Why Australia is becoming the new home of the Hollywood blockbuster

Published

4 days ago

May 17, 2024

Nathan Langridge

Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.

The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.

The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.

Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.

Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured

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Portal between countries shut down after international flashing

Published

4 days ago

May 17, 2024

Nathan Langridge

An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending