Taiwan plans $40bn extra def spending to counter Beijing

Taiwan will introduce a $40-billion supplementary defence budget to underscore its determination to defend itself in the face of a rising threat from China, President Lai Ching-te said on Wednesday. As Taiwan faces calls from Washington to spend more on its own defence, Lai said in Aug he hoped for a boost in defence spending to 5% of gross domestic product by 2030.Unveiling the $39.89 billion package, Lai said history had proven that trying to compromise in the face of aggression brought nothing but “enslavement”. Taiwan’s defence minister Wellington Koo said Wednesday the budge will cover items including missiles and drones as well as the new “T-Dome” air defence system. (

This is a Reuters story)