Earlier quoted context omitted.
Yes, they've been taking the profits and building their military at a fast rate for 20 years...to do...something.
China has the 2nd largest military budget but only spends 1.7% GDP on it vs the global average of 2.2% and US at 3.5%. India the worlds 3rd largest spender is between them at 2.7% GDP, and #4 the UK spends 2.2% GDP. https://en.wikipedia.org/wiki/List_of_countries_by_military_... I may strongly dislike China, but a relative lack of military spending is one of their strengths.
The part that matters is what they’ll use it for (so far, signs point to authoritarian conquest of sovereign political entities)