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Japan sanctions record $42 billion military budget to counter China

| | Jan 14, 2015, at 07:57 pm
#China # Japan
Tokyo, Jan 14 (IBNS): Japanese Prime Minister Shinzo Abe’s government approved a record $42 billion military budget on Wednesday, media reports said.

Sources said the draft budget for the fiscal year from April includes a 2.8 percent rise in defence spending to 4.98 trillion yen for items like planes, naval vessels and fighting vehicles to guard waters bordering China.

The move was taken over a long-running dispute with Tokyo over Japanese-held islands in the East China Sea and to counter China’s rising military might.

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