Taiwan announces a record budget for defense amid tensions with China

The President of Taiwan, Lai Ching Te, announced that the defense budget will exceed one trillion New Taiwan dollars next year, equivalent to approximately 31 billion US dollars and over 3% of GDP. The leader in Taipei states that the increase represents an "investment in peace" and serves to strengthen the island's self-defense capability, in the context of the intensification of Chinese military activities around Taiwan. The announcement comes after the Han Kuang military exercises, during which the Taiwanese army simulated scenarios regarding a potential Chinese maritime blockade. Meanwhile, the opposition in parliament is calling for a careful analysis of how the additional defense funds will be spent.