"No matter how often China has emphasised the idea of a peaceful rise, the pace and nature of its military modernisation inevitably cause alarm. As America and the big European powers reduce their defence spending, China looks likely to maintain the past decade's increases of about 12% a year. Even though its defence budget is less than a quarter the size of America's today, China's generals are ambitious. The country is on course to become the world's largest military spender in just 20 years or so ..." (Quoted from article)