Taiwan: Taiwan President Lai Ching-Te on Friday said that they want the country’s defense budget to reach 5% of GDP (GDP) before 2030. Its purpose is to make Taiwan’s army stronger, on which America is also emphasizing. A day earlier, the government had said that next year’s defense budget would be 3.32% of GDP. It also includes the expenses of Coast Guard and some other departments for the first time. Prime Minister Cho Jung-Tai described this strategy as a “NATO model”.
Taiwan’s plan for 2030 defense budget?
Taiwan has said that it will further increase its defense spending in the coming time. This decision has been taken at a time when China is constantly increasing the pressure on Taiwan. China considers Taiwan as its part and in the last five years it has tried to strengthen its claims through military and political activities. Taiwan strongly opposed these claims. At the same time, the US also wants Taiwan to spend more on its security, such as it puts pressure on European countries.
Big step amid threat from China
Taiwan President Lai Ching-Te said that his country would work closely with the international community to maintain peace and stability in the Indo-Pacific region. He also stated that the government would strengthen cooperation with “international partners” in arms research, development and production, although he did not give any detailed information yet. Despite not having a formal diplomatic relationship, the US is Taiwan’s largest weapon supplier. Along with this, Taiwan has also strengthened its domestic weapon industry, which is making itself from fighter aircraft to cruise missiles.