China has the second largest military spending in the world, second only to the US. What's more, you really need to look at purchasing power parity (PPP). Basically, it costs less to do things in China, and that really matters for military spending. For example, soldiers in the Chinese People’s Liberation Army (PLA) receive far lower salaries than the equivalent US personnel. It's hard to figure out the true impact of this, but it's important to acknowledge. One article about this is here: https://voxeu.org/article/why-military-purchasing-power-pari... - which argues that US military spending is basically equal to Russia+China once that's considered. Also, there's geography to consider. If China is attacking next-door-neighbors while the US is trying to defend an ally at long distance, it would necessarily cost the US much more. All of this makes comparing military spending much more complicated, as well as depressing. It's my hope that military adventurism will be avoided.
I'm not sure the past ten months have been the greatest time for the argument that Russia gets almost a third of the US's military value after adjusting for PPP.
While the amount of spending money has an effect, wisely spending the money pre-war and wisely executing war plans is obviously critical. Russia is demonstrating the weakness from widespread corruption (they got stuck on roads because they did not invest in logistics and on maintaining their vehicles), combined with spectacularly poor planning in the initial attack. It would be unwise to assume China will make such mistakes.
Anyway, it is my hope that war does not break out. The one guarantee about war is many deaths.
