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9/16, 12:43 PM (Source: TeleTrader)
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Taiwan to boost military over Chinese pressure

Taiwan unveiled plans on Thursday to upgrade its military with new weapon systems in order to be better prepared for a potential attack by China. The plans would designate around $8.7 billion over the course of five years to spend on homegrown precision missiles, high-performance naval ships, and weapons systems for existing warships.

This would mark a significant increase in the region's military spending, and would be added on top of Taiwan's already existing annual military budget. Taiwanese officials stressed the urgency of these plans, saying that they are facing "severe threats from their enemies."

Breaking the News / OL