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Chinese J-20 spy shot
China has a new stealth fighter waiting in the wings

The Chinese government is spending heavily to increase its military might and is increasing spending on research into new weapon systems. China insists that it is no threat to other countries, but much of the world looks warily at the communist country and its growing power.

China's defense minister Liang Guanglie says that the country wants to modernize its military without foreign aid. Liang said, "In the coming five years, our military will push forward preparations for military conflict in every strategic direction."

Liang continues to say that China would advance its capability to fight and win future high-tech wars while boosting its conventional military arsenal. China is working on weapons that trouble some military analysts and military personnel in the U.S. with new weapons systems like the DF-21 missile which can destroy a U.S. supercarrier with a single hit.

Liang said, "We will stand on our own feet to solve the problem and develop our equipment. The modernization of the Chinese military cannot depend on others, and cannot be bought."

According to Liang, China is building up its navy, air force, and strategic missile forces. China is thought to be launching a new aircraft carrier as much as a year before analysts expected and the Chinese Air Force has a new stealth jet that has been seen recently in spy shots.  The Chinese stealth aircraft is called the J-20 and is thought to be aimed at the U.S. F-22 Raptor. Some reports have claimed that the J-20 is larger than the Raptor with more weapons and fuel capacity making some think that the aircraft may not be as fast or agile as the Raptor in a fight.

Defense News reports that U.S. Defense Secretary Ronald Gates will head to Beijing soon for talks with Chinese officials. The visit will undoubtedly be in part to talk about the fact that China is allied with North Korea. North Korea recently shelled a small South Korean island killing four people, including two civilians.

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Our Tax Dollars at Work
By schrodog on 12/30/2010 11:08:35 AM , Rating: 3
I'm willing to bet the interest accumulated from our debt to China is going towards funding these projects

RE: Our Tax Dollars at Work
By warisz00r on 12/30/2010 11:20:44 AM , Rating: 2
Should have make China and the Chinese alone do the JSF project -- but then the J in the name has to mean something else...


RE: Our Tax Dollars at Work
By RaggedClaws on 12/31/2010 4:28:45 AM , Rating: 4
The solution is to offshore even more of our manufacturing to China. We get to buy cheap kit and the corporations can avoid pissing away profits on high wages and benefits to Americans; the Chinese get to buy our debt, the interest we pay on that debt, and the cash to build up their infrastructure and military. It's a win-win for everyone.

And because the Chinese need to keep their currency undervalued so that their exporters remain profitable, their central bank is forced to buy trainloads of dollars. The only way to do that is to buy our debt, in turn assuring that we have enough money to buy their kit. It's a beautiful system.

Of course, this means Beijing will eventually own our asses, but in the meantime enjoy that iStuff and watch that tech stock soar. You do live on the capital gains from your stock portfolio don't you?

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