GDP and economic growth is the correlation which best describes military power. The Chinese realize that to grow your military during down periods is not proper management of the economy which must sustain and grow to support a military. The French and British saw the collapse of their power realizing too late that the burden of the military had outstripped their economies ability to support the same.
America thinks ignoring history and growing military beyond our ability to reinvest in our economy is a sure fired path to military power loss. America has to make deep military cuts, not because it makes us weaker, but because it makes us stronger. China is a much more formidable nation long term by mastering this simple economic law.
http://www.nytimes.com/2015/09/03/world/asia/beijing-turns-into-ghost-town-as-it-gears-up-for-military-parade.html?_r=0
America thinks ignoring history and growing military beyond our ability to reinvest in our economy is a sure fired path to military power loss. America has to make deep military cuts, not because it makes us weaker, but because it makes us stronger. China is a much more formidable nation long term by mastering this simple economic law.
http://www.nytimes.com/2015/09/03/world/asia/beijing-turns-into-ghost-town-as-it-gears-up-for-military-parade.html?_r=0