American Forces Press Service: “China not only is a rising international economic power, but also is a rising military power with new and developing capabilities that have global implications, according to the 2008 China Military Power Report released today. The annual report mandated by Congress analyzes China’s military development and strategy and says that the country spent as much as $139 billion, more than three times its announced defense budget, modernizing its military forces last year. That amount dwarfs the military budgets of Russia, Japan and South Korea, and has been the driving force behind the country’s military transformation, fueled by the acquisition of advanced foreign weapons and far-reaching organizational and doctrinal reforms. Combined with what Defense Department officials call a lack of transparency, the military development poses risks to stability by increasing the potential for misunderstanding and miscalculation, the report concludes.”