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The guys over at [War is boring](https://medium.com/war-is-boring/8a12e8ef7edc) had an interesting analysis on Chinese military spending. I guess the best thing one can say about their equipment is … it’s vintage
> The PLAN’s destroyers and frigates are fairly new, but its first aircraft carrier Liaoning is a rebuilt Soviet ship from the 1980s. After a nine-year refit, Liaoning started sea trials in 2011.
> Liaoning is half the size of an American Nimitz-class supercarrier and carries half as many planes. As Liaoning lacks a catapult, China’s J-15 naval fighters must use a ski ramp to take off—and that limits their payload and range. Liaoning lacks the radar and refueling planes that give American flattops their long-range striking power.
> Submarines are another problem area for the PLAN. Just over half of China’s 54 submarines are modern—that is, built within the last 20 years. Beijing’s modern undersea fleet includes the Shang, Han, Yuan and Song classes. All four classes are Chinese-built. All are markedly inferior to Western designs.
> The rest of China’s submarines, especially its 1980s-vintage Mings, are totally obsolete.