China's Military Gets More Bang for the Buck - Bloomberg View: "... in recent years the military appears to have wasted huge amounts of money on programs of dubious value, like the F-35 Lightning jet fighter. That program has seen its costs balloon to $400 billion -- about 2.5 percent of one year of U.S. GDP -- and will undoubtedly see costs go much higher. But the plane still does not work. Nor is the F-35 particularly unique. Programs like the F-35 have provided Americans with jobs, but have often been of dubious value to our military while costs greatly exceed initial estimates. Meanwhile, new Chinese weapons systems continually exceed U.S. expectations...."
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