China is already nearly spending as much as the US is on its military once you adjust for the difference in the cost of personnel (which is half of US military spending), ie adjust for PPP. The US has the best paid soldiers in the world for any major military, which matches up with the US having among the highest median pay of any nation.
When China's economy is another 50% larger, matching where US GDP is at today, you can expect China's real military spending to considerably exceed the US today.
Thanks to drastically lower salaries & benefits, the personnel costs for the Chinese military is a far smaller portion of its total military spending as compared to the US share.
When China's economy is another 50% larger, matching where US GDP is at today, you can expect China's real military spending to considerably exceed the US today.
Thanks to drastically lower salaries & benefits, the personnel costs for the Chinese military is a far smaller portion of its total military spending as compared to the US share.
Adjusted PPP comparison: https://i.imgur.com/SY22Whj.png