China weapons at parity with the West!

Well, I am not a student on Chinese weapons. But his entity is and it has come up with this conclusion:

http://www.arabnews.com/node/1054276/world

I know it speaks of China's defense military budget increases. However, I know that taken as a whole and compare with what the US spends, China is way down in the table. So, my conclusion is that China certainly is not at parity with the US. 
If China is not at parity with the US, the how on earth can it be at parity with the West.
We have to be very careful with the kind of alarmist piffle that is peddled to us simple poor folk. We can be so misled.