Taiwan will propose an 18% increase in military spending by 2027 to contain China

Taiwanese President Lai Ching-te announced plans on Monday to propose a record-breaking defense budget for 2027. The government aims to allocate 1.12 trillion New Taiwan dollars, approximately 35.3 billion U.S. dollars, to military spending. This figure represents an 18 percent increase from the previous year and would push total defense expenditure above 3 percent of the nation's gross domestic product.

The proposed budget is intended to bolster Taiwan's defensive capabilities amid ongoing regional tensions. By surpassing the one-trillion-dollar threshold for the first time, the administration seeks to enhance its military readiness and address security challenges posed by China.