Taiwanese leader William Lai Ching-te has set out plans for an unprecedented rise in defence spending worth US$40 billion over the next eight years, describing it as a historic investment to safeguard the island’s democracy and deter an increasingly assertive Beijing.
In an article for The Washington Post published on Wednesday, Lai said his government had committed to “significantly increase” military expenditure to 3.3 per cent of gross domestic product next year, then raise it further to 5…
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