Japan’s cabinet has approved a record high defence budget as tensions with China continue to spiral, with Beijing this week accusing Tokyo of “fuelling a space arms race”.
The draft defence budget for the next fiscal year – approved on Friday – is more than ¥9tn ($58bn) and 9.4% bigger than the previous budget, which will end in April. The increase comes in the fourth year of Japan’s five-year program to double its annual arms spending to 2% of GDP.
