4/ Theme 3. Parades are not indictors of warfighting effectiveness. Notwithstanding the impressive orchestration of the parade, and highly synchronised music and marching, these have almost zero impact on the measurement of military effectiveness. While there have been large reforms of the past decade, particularly in the creation of joint theatre commands and strategic support institutions (space, cyber, etc), we need to watch exercises and activities such as Joint Swords / Strait Thunder around Taiwan and elsewhere to gain additional insights into real PLA capability.