China’s military spending balloons amid mounting debt

Published

3 years 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.

NASA’s Artemis II launch: Argentina joins first crewed moon mission in 50 years

NASA’s Artemis II rocket is ready for its first crewed Moon mission in over 50 years, featuring Argentina’s ATENEA microsatellite.

Published

16 hours ago

January 19, 2026

Harvey Vargas

NASA’s Artemis II rocket is ready for its first crewed Moon mission in over 50 years, featuring Argentina’s ATENEA microsatellite.

NASA’s Artemis II rocket has arrived at Kennedy Space Center, marking the first crewed Moon mission in more than five decades.

The mission will carry a crew of four astronauts on a ten-day journey around the Moon, with a wet dress rehearsal scheduled for February 2 to test all systems.

In a historic moment for Latin America, Argentina’s ATENEA microsatellite will join the Artemis II mission as secondary cargo. Developed through a collaboration of Argentine institutions, ATENEA will collect crucial data on radiation and communications systems in space, making Argentina the only Latin American country contributing to this milestone mission.

The Artemis II mission will also validate life support and spacecraft systems ahead of Artemis III, NASA’s planned crewed lunar landing in 2027. With the SLS rocket and Orion spacecraft now on Launch Pad 39B, excitement is building for this next giant leap in space exploration.

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News

Iran warns U.S. retaliation as protest death toll soars — executions feared, nationwide unrest

Iran warns of severe retaliation against U.S. strikes, amid escalating tensions and internal unrest.

Published

17 hours ago

January 19, 2026

Harvey Vargas

Iran warns of severe retaliation against U.S. strikes, amid escalating tensions and internal unrest.

Iran has issued a stark warning of a severe response to any U.S. military strike, with leaders stressing that military action would be treated as an act of war.

President Masoud Pezeshkian cautioned that attacks on strategic sites or leadership figures could trigger retaliation against U.S. and allied forces in the region — including potential targets in Israel and American bases. These warnings come as tensions between Tehran and Washington escalate amid sustained unrest across Iran.

The backdrop for this diplomatic brinkmanship is a bitter standoff between Tehran and the U.S., with U.S. President Donald Trump publicly debating options for intervention and criticising Iran’s leadership.

Tehran, for its part, has blamed external forces for stoking internal dissent and insists it will fiercely defend its sovereignty.

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News

EU condemns Trump’s Greenland tariff threats: Trade tensions escalate

Major EU nations criticize Trump’s Greenland tariffs as “blackmail,” risking trade agreements and raising tensions across the Atlantic.

Published

17 hours ago

January 19, 2026

Harvey Vargas

Major EU nations criticize Trump’s Greenland tariffs as “blackmail,” risking trade agreements and raising tensions across the Atlantic.

Major EU nations are pushing back against President Trump’s tariff threats over Greenland, calling them “blackmail” and raising tensions across the Atlantic. Germany and France are reportedly considering economic countermeasures to respond to the U.S. stance.

Trade agreements with the UK and the EU could be at risk, as these threats put key negotiations in jeopardy. The European Parliament is also expected to pause discussions on the EU-U.S. trade deal, signaling a growing rift.

Meanwhile, British officials insist their position on Greenland is non-negotiable, adding complexity to an already tense situation.

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#TrumpTariffs #Greenland #EUTensions #TradeWars #USPolitics #GlobalEconomy #EUTrade #NationalSecurity