How Fiscal Risk May Constrain China's Geopolitical Ambitions
Abstract
China's spending on national defense, internal security, and interest on outstanding debt currently account for over half of all central government expenditures. This has led to reduced outlays for nearly all other central government agencies as China's leaders have endeavored to restrain debt service while steadily increasing national defense spending. Growing reliance on debt to finance government spending has also exacerbated stresses on Chinas financial system. Fiscal pressure will inevitably inform and probably constrain China's domestic and foreign policy in terms both of goals and of implementation.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 01, 2023
- Accession Number
- AD1230847
Entities
People
- Christopher F. Wurzel
Organizations
- Institute for Defense Analyses