News Analysis China has been able to accelerate the technological capabilities of its military, the People’s Liberation Army (PLA), by stealing U.S. technology, accessing U.S. capital markets, and courting American investors. The U.S. defense community has been very concerned over the PLA’s recent test of hypersonic missiles. These technologically advanced weapons have capabilities, making them extremely difficult to defend against. They are also expensive, at over $105 million per missile. Beijing’s high-tech weapons arsenal—such as satellites, magnetic rail guns, nuclear and hypersonic arms—is very expensive, which is why 41 percent of China’s $252 billion defense budget is spent on research and development. Part of the PLA’s R&D cost is defrayed by stealing U.S. technology. And some of the technology is purchased from American developers, using funds from U.S. investors. For example, China Aerodynamics Research and Development Center (CARDC), a hypersonic test facility, relies on a super computer that uses American chip technology. By listing …