Taiwan's leader says increasing defence spending to 'deter war'

Taiwan's President Lai Ching-te has announced plans to increase the country's defence spending to a record NT$1.1 trillion in 2027. This move aims to deter war by strengthening Taiwan's military capabilities. The increased spending, which accounts for more than 3% of GDP, is a significant shift in Taiwan's military strategy and is likely to have implications for regional security and trade. This development may also impact Taiwan's economic growth and stability.

Why it matters

Taiwan's government is increasing defence spending to deter war, which could lead to increased tensions in the region. This move may impact the global economy and markets as it affects the balance of power in the Asia-Pacific region.

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