Taiwan president says the defense budget will exceed 3 % of GDP in the face of the increasing threat from Beijing
Taiwanese President William Lay Cheng Ter said on Thursday that the island’s defense budget will exceed 3 % of its economic production, as it reforms its army in the face of the increasing threat from China.
Besides the latest equipment – many of them from the United States, the army is looking for funds to keep more people who have higher wages and prolong compulsory national service from four months to one year.
In a speech on Thursday to the American Chamber of Commerce, Lay said that his administration was determined to “make sure our defense budget exceeds 3 % of GDP. At the same time, we will continue to reform the national defense.”
Lay’s comments were the latest reassurance for us and the local critics who say that Taiwan does not spend enough on its defense. The autonomous island, which depends on the United States on many of its advanced weapons, is currently spending about 2.45 % of its GDP on its army.
US President Donald Trump asked Taiwan to increase defense spending at an altitude of 10 % of GDP, a much higher percentage than the United States or any of its main allies, to deter China.
China’s actions have also led to the instability of the neighbors in the South China Sea and other parts of the Indian Pacific Ocean.
Leaders in Australia and New Zealand said China should have given them more warning before the navy runs an extraordinary series of live fire fires in the seas between the two countries last month, forcing flights to shift in a short notice.
Lay Taiwan said “to advance our cooperation with the United States and other democracies in supporting stability and regional prosperity.”
Democratic China, which is self -raised in Taiwan as part of its own land, has greatly strengthened its army to provide its threat to the island’s invasion to confirm its control.
Raymond Green, US ambassador to Taiwan; Dan Silver, President of the Chamber; Alaska state governor Mike Dunlvi attended the speech.
Taiwan and the United States do not have official diplomatic ties, but American law requires Washington to respond to threats towards the island.
This story was originally shown on Fortune.com
