China boosts diplomatic budget by 9.3% as US leaves ‘fiscal void’

Growth rate in foreign affairs spending this year to outpace that of military budget as Beijing consolidates global influence, analysts say

China is expanding its diplomatic budget by 9.3 per cent, the highest increase in three years, signalling Beijing’s plans to consolidate its geopolitical clout as instability mounts around the globe, according to analysts.

The planned budget rise of 9.3 per cent for Beijing’s foreign affairs spending this year is higher than the uptick in the military budget, set at 7 per cent. Last year, China increased its diplomatic budget by 8.4 per cent.

China’s additional diplomatic spending comes as global instability escalates, and the United States shows signs of withdrawing from its role as a world leader.

Source: News - South China Morning Post