China’s National Defense Industry Records Record Profits
China's national defense industry raked in a PROFIT of more than 20 billion yuan ($2.6 billion) in 2006, up 50% from a year ago.
China is producing more new weapons –
1. Jian-10 jet figher,
2. Xiaolong fighters,
3. Advanced Lieying- and Shanying-series trainer aircraft,
and
4. Multi-model advanced missile systems.
Output of 'defense' products was up 17% and revenue was up 25% over 2005.
So, is China in the business of defending itself, or is its defense industry in business?
What do you think?
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