Corruption Crackdown Stalls China’s Military Revenue Growth

China’s giant military firms witnessed a significant revenue decline due to widespread corruption purges that disrupted arms contracts and procurement processes, a leading conflict think tank has revealed. This downward trend stands in stark contrast to robust revenue growth observed among major global arms and military-services companies, driven by persistent conflicts in regions such as Ukraine and Gaza, according to the Stockholm International Peace Research Institute (SIPRI). The fallout from corruption allegations, which led to the expulsion of eight top generals, including China’s number two general, highlights the profound uncertainty surrounding China’s military modernization efforts as it grapples with political…