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The Chinese government is rapidly building a bigger, more sophisticated military. Here’s what they have, what they want, and what it means for the U.S.

In a single generation, China has transformed itself from a largely agrarian country into a global manufacturing and trading powerhouse. China’s economy is 20 times bigger than it was two decades ago and is on track to surpass the United States’ as the world’s largest. But perhaps most startling has been the growth of China’s ambitious and increasingly powerful military.

Just 10 years ago, the budget for the People’s Liberation Army (PLA) was roughly $20 billion. Today, that number is more like $100 billion. (Some analysts think it’s closer to $160 billion.) The PLA’s budget is only a sixth of what the U.S. devotes to defense annually, but defense dollars go much further in China, and in the years ahead, Chinese military spending will grow at the same rate as its economy.

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My Comment: The Chinese see themselves as Asia's regional superpower today (which one can debate that they are).... and a global superpower in 20-30 years. It is (of course) that 20-30 year plan that is getting everyone nervous.What's my take .... China has a very long way to go before they are a global super power .... and there is no guarantee that they will become one even then.