Taiwanese President William Lai Ching-te announced a $40 billion defense budget over the next eight years, aiming to enhance Taiwan’s military capabilities amid tensions with China. Lai plans to increase annual defense spending to over 3% of GDP next year and 5% by 2030, in response to U.S. pressure for greater deterrence against potential Chinese aggression. The proposal includes new arms purchases and the development of a multi-layered air defense system. However, the plan may face challenges in parliament due to opposition from the Kuomintang party.
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