Global Times: US defence budget hike signals upcoming world war

"How great is the risk of war in the world? The answer is very simple. One need only look at the amount the US is currently spending on armaments... The high US defence spending speaks volumes about the risk of global war," says the Global Times piece.

The article notes that "big Wall Street players and White House officials see an opportunity to cash in on global conflicts."

It also notes that the Biden administration has just unveiled an $842 billion US military spending budget for 2023, four times the size of China's military spending. But, in addition, the fundamental difference is that China is pursuing a defensive policy, whereas in US foreign military strategy the principle is pre-emptive.