ABSTRACT
The emergence of China as a state of global significance is the product of over 50 years of revolution, reform and renewal. By 2010, China was the world’s second-largest economy (measured by PPP), eclipsing Japan, according to some estimates. The PRC also possesses the world’s largest military and the second-largest defence budget, officially spending $US90 billion, although US estimates suggest the PRC devotes up to $US150 billion to defence (Reuters 2010; US Department of Defence 2009).
