On Thursday, Chinese President Xi Jinping used a speech during a massive parade of military strength to announce that he is cutting 300,000 personnel from China's massive army. He described the reduction of the 2.3-million-strong People's Liberation Army as a gesture of peace, saying that China will always "walk down the path of peaceful development." Xi made his announcement during a parade to mark the 70th anniversary of Japan's surrender at the end of World War II.