China: A Growing Power, 12 February 2014

CHINA: A GROWING POWER Defence spending was US$166.2 billion in 2012 compared to $22.2 billion in 2000. Second only to the US. Produces twice as many cars as the US. In 2012 it built 19.27 million vehicles, compared to 10.3 million in the US, 9.9 million in Japan, 5.6 million in Germany and 4.6 million in Korea. Consumes over half the world's semiconductor output and produces 75% of global output of mobile phones, 87% of personal computers and 52% of colour televisions. The leading trade partner for 124 countries, compared to 76 for the US. Inward foreign direct investment has risen to $832 billion. Only the US, France and the UK have more. Has $3.7 trillion of foreign exchange reserves, the largest in the world. Japan is next, with $1.3 trillion. Had 122 billionaires in 2013, compared to 422 in the US, 110 in Russia, 39 in Hong Kong and 26 in Taiwan.

“China’s made claims over much of the South China Sea, provoking border disputes with Vietnam and the Philippines,’’ the paper says.

“In November 2013, China announced the creation of an air defence identification zone over the East China Sea.’’