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Economic growth takes a back seat to defense spending in China's new budget

Mar. 06, 2023 4:22 AM ETFXI, PGJ, EWH, CAF, CYB, GXC, TDF, CHIQ, YINN, YANG, CQQQ, CHIX, MCHI, CXSE, KWEB, ASHR, KBA, CWEB, KUREBy: Yoel Minkoff, SA News Editor43 Comments

Great Hall of the people,Beijing

LUHUANFENG/iStock via Getty Images

China's National People's Congress convened its annual parliamentary gathering over the weekend, setting a GDP growth goal of "around 5%" for 2023 to mark its lowest target in over three decades.

Perhaps unsurprisingly, China's defense spending

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