Apparently, China doesn't like Russia's island. Even the Chinese aren't dumb enough to think that one carrier, or even a modest fleet of them, would ever engage the US Navy except during the most tense of diplomatic stand-offs. The point of a Chinese carrier is to protect interests abroad, same as ours. Should the US ever go to war with China, the US Air Force (with the power of Super Jesus behind them) would explode whatever warships our submarines didn't sink long before our carriers got within striking distance.
But having a carrier, even an old bad one, is better than none at all. And getting one signals China's wish to evolve into a global military power.
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