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.
Not really sure that comparisons of either GDP or state spending on a purpose as a share of it (even if GDP were comparable) are as meaningful as people pretend across regimes with vastly different degrees of state/industry integration both generally (because of effect on GDP measures) or in the field of interest (because of effects on spending measures.)
Unfortunately, there's not good alternative measures, either.
The part that matters is what they’ll use it for (so far, signs point to authoritarian conquest of sovereign political entities)
https://en.wikipedia.org/wiki/List_of_countries_by_military_...
I may strongly dislike China, but a relative lack of military spending is one of their strengths.