Yeah isn't that the one when they went to war because their didn't want american/un forces pushing all the way up to the yalu river (which would give it no buffer against hostile forces)?Ever heard of the korean war?
Pretty conservative if you ask me, espicially considering that China didn't really have a hand in the North's initial invasion south.
A large chunk being what? in 2004 10% of the population lived under the poverty line, compared to 64% in 1981 -- and that's why there was such a stagnation in military development around the eighties -- the PRC knew they couldn't afford the kind of military they wanted when the majority of their population was "starving".when you consider a large chunck of their population is starving there are better things they should be focusing on then "flexing".
Fastforward to 2010/2011, china is now the second largest economy in the world so it shouldn't be a surprise to anyone that they want to grow their military to suit their much changed needs, needs which their current military can barely handle. China's navy in future should/would definitely be larger than Japan's simply due a greater economic size, not to mention the lack of instigating a world war which they lost and subsequently was forced to de-militarize (implying China is more justified to flat tops than Japan would be).
PS: Also if you believe 10% of the population in poverty (now probably less) doesn't justify "flexing" then I suggest you look to a certain south western neighbour to China, a certain India? They've got... what 37% of the population in poverty while they're planning at least two aircraft carriers and they are undergoing a naval and air force expansion as radical as China's own. I don't want this post to spark A vs B, but really man you have to be less biased...
(rant over )