CNBC/Reuters: Taiwan proposes large rise in defense spending amid escalating China tensions
* Taiwan proposed $19 billion in defense spending for next year on Thursday, a double-digit increase on 2022 that includes funds for new fighter jets, weeks after China staged large-scale war games around the island it views as its sovereign territory.
* China carried out its largest-ever military exercises around the democratically governed island after a visit this month by U.S. House Speaker Nancy Pelosi. The trip infuriated Beijing, which saw it as an attempt by Washington to interfere in China’s internal affairs.
Taiwan proposed $19 billion in defense spending for next year on Thursday, a double-digit increase on 2022 that includes funds for new fighter jets, weeks after China staged large-scale war games around the island it views as its sovereign territory.
China carried out its largest-ever military exercises around the democratically governed island after a visit this month by U.S. House Speaker Nancy Pelosi. The trip infuriated Beijing, which saw it as an attempt by Washington to interfere in China’s internal affairs.
The overall proposed defense budget by President Tsai Ing-wen’s Cabinet sets a 13.9% year-on-year increase to a record T$586.3 billion ($19.41 billion).
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