BEIJING — China plans to increase its defense spending by 7% this year, Reuters reported Thursday, citing official documents due for public release later in the day. That would mark the slowest increase in its annual military expenditure since 2021. The proposal comes as conflict in the Middle East has escalated, amid a broader rise in geopolitical tensions. For the last three years, China has budgeted a 7.2% annual increase in defense spending. Beijing had increased spending by 7.1% in 2022