China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank

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An air defense squadron conducts a live-fire drill in Changzhou, Jiangsu province, China, April 28, 2024.
An air defense squadron conducts a live-fire drill in Changzhou, Jiangsu province, China, April 28, 2024.

CFOTO/Future Publishing via Getty Images

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