'Their' MIC versus 'our' MIC
President Eisenhower was the first person to openly call out what he called "the Military Industrial Complex", the unholy alliance of government and weapons providers that feed off one another. To a certain extent this is inevitable -- somebody's got to make the guns -- but at some critical financial mass the providers stop responding to policy and start driving it. This has been the case in both the UK and the US for decades now (the UK was the first to abandon work on technology in favor of exclusive (and more profitable) government contracts). This picture (taken from an article on the Vox website) pretty much sums it up....
(The only thing left is to put the corporate logos onto the actual military hardware.)
So far I don't see the Chinese MIC being on quite the same scale. Their economy is mostly oriented towards consumer and industrial production. Obviously we in 'the west' have to stoke the case for more military spending so we're doing whatever the modern version of the 1950's era 'missile gap' (which in retrospect wasn't). We need enemies because without them a large chunk of our economy would fall apart so in the absence of anything suitable from the Middle East we're back to the old bogeymen. The idea that we're succeeding in our endeavors, though ("We're Winning, See, They're Broke!" -- spoken from a perspective of spiraling deficits, inflation, people getting poorer and all that good stuff) is critical to help build momentum.
(Those of us who've had a play with Chat GPT will never believe a news article or press release again...)