China’s military capacities are growing. But that is basically because its economy is growing v rapidly. No evidence for any increase in effort level relative to GDP. To have held status quo, China would have had to have DEmilitarized at a rapid pace.
@alpinemacro via @SoberLook https://t.co/uMhlEPeYNz
RT @ArashMV: @PhilippaSigl Not a myth to be busted. Every econ knows.